News Synopsis
SNAPSHOT
Project: Green Turtle Battery Energy Storage System
Developer/Operator: GIGA Storage
Location: Dilsen-Stokkem, Belgium
Capacity: 700 MW / 2,800 MWh (2.8 GWh)
Investment: €450 million debt financing plus equity from InfraVia Capital Partners
Financial Close: July 9, 2026
Construction Start: September 2026
Expected Operation: 2028
EPC & Technology: Tesla Megablock
Grid Connection: Elia 380 kV transmission network
GIGA Storage, a Netherlands-based developer and operator of large-scale battery energy storage systems (BESS), has achieved financial close for the Green Turtle project, a 700 MW/2,800 MWh standalone battery energy storage facility in Dilsen-Stokkem, Belgium. The milestone secures financing for one of Europe's largest battery storage projects and enables construction to begin in September 2026, with commercial operations expected in 2028.
The project is financed through a consortium of ten international banks comprising ABN AMRO, ING, Rabobank, Triodos Bank, Triodos Investment Management, asr, Belfius, Hamburg Commercial Bank (HCOB), Santander, and SMBC. Together, the lenders are providing €450 million in debt financing, while the remaining project investment will be funded through equity from InfraVia Capital Partners, GIGA Storage's shareholder. Before reaching financial close, the company completed permitting, land acquisition, supplier agreements, and grid connection arrangements.
Green Turtle will be developed at the Rotem industrial estate in Belgium, strategically positioned near the borders of Belgium, the Netherlands, and Germany. Tesla has been selected as the engineering, procurement and construction (EPC) contractor and will supply its Megablock battery energy storage technology, oversee project construction, and provide long-term maintenance services. Once commissioned, GIGA Storage will operate the facility and make its storage capacity available to Belgian transmission system operator Elia and electricity market participants supporting grid balancing and congestion management.
The battery system will connect directly to Elia's 380 kV transmission network through a dedicated high-voltage substation. It will store surplus electricity generated from solar and wind during periods of excess generation and discharge power back to the grid during high-demand periods. According to GIGA Storage, the project will be capable of supplying electricity equivalent to the daily consumption of approximately 385,000 households during peak demand, helping improve grid flexibility, strengthen security of supply, and facilitate higher renewable energy penetration.
Green Turtle follows the financial close of GIGA Storage's 300 MW/1,200 MWh Project Leopard in the Netherlands and precedes the planned financing of the 350 MW/1,400 MWh Project Albatross in Germany. Together with additional developments across Belgium, Germany, and the Netherlands, the company aims to exceed 2 GW of operational battery storage capacity by 2030, expanding its presence across the Northwest European energy storage market.