Nuvve Denmark ApS and E&B Renewables ApS have signed a non-binding MoU to jointly develop grid-connected battery energy storage projects across Northern Europe and the Baltics. Starting with three 2 MW systems in Denmark, the collaboration targets 2–100 MW projects, leveraging Nuvve’s grid asset management platform to diversify revenues and manage long-term operational risk.
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European subsidiary of Nuvve Holding Corp, Nuvve Denmark ApS, and E&B Renewables ApS, a Denmark-based renewable energy developer, have entered into a non-binding Memorandum of Understanding (MoU) to deploy battery energy storage system (BESS) projects across Northern Europe and the Baltic region. The agreement was announced on December 23, 2025, and builds on earlier cooperation between the parties, including three BESS projects previously disclosed in Denmark in November 2025.
Under the MoU,the companies jointly develop grid-connected battery energy storage systems that will be managed using Nuvve’s grid asset management platform. The planned projects are expected to range from 2 MW to 100 MW of battery power capacity and connect to national grids, with Nuvve managing operations.
The initial phase focuses on three 2 MW battery projects in Denmark. Further additions of 20 MW to 50 MW across Nordic and Baltic markets are expected from early 2026, subject to approvals and market factors.
Revenue expectations differ across markets. In Denmark, estimates span roughly DKK 2,000,000 to DKK 3,400,000 per MW each year ($340,000–$532,000/MW-year), while Estonia is referenced at about €480,000 per MW annually ($570,000/MW-year). The battery projects are typically modeled with an operating life of around 15 years.
The collaboration focuses on battery projects where revenue risk can be managed over the asset’s operating life. This is addressed through multiple revenue sources, including behind-the-meter services, local flexibility arrangements, energy community participation, and physical flexibility purchase agreements with nearby prosumers. Nuvve’s platform would be used to coordinate these activities across the portfolio.
As a non-binding arrangement, the MoU records the companies’ intention to pursue project agreements. Initial development is planned in Denmark, followed by expansion into other Northern European markets.
Gregory Poilasne, CEO of Nuvve Holding Corp, said that the agreement aligns with the company’s previously announced expansion into stationary energy storage and microgrid projects.
Nicolaj Brask Christiansen, co-CEO of E&B Renewables ApS, said the collaboration focuses on identifying battery storage projects characterized by defined yield profiles, managed risk exposure, and shorter development timelines.
Matias Bøje, co-CEO of E&B Renewables, said Nuvve’s grid asset management platform enables diversified revenue participation and risk management across the battery energy storage portfolio.