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Aviva Investors Backs Terra One's €150M Battery Storage Expansion

Aviva Investors' backing boosts Terra One's ambitious expansion. The deal aims to significantly increase Germany's battery storage capacity.

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2 min read
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Aviva Investors Backs Terra One's €150M Battery Storage Expansion

Aviva Investors has agreed to invest up to €150 million in Terra One's expansion, securing a first stake and board seats. The funding will support the construction of 500 megawatts of storage units near me systems in Germany by 2028.

Terra One has secured €150 million in mezzanine financing from Aviva Investors. The investment will fund the construction of storage systems with a total capacity of approximately 500 megawatts in Germany, set to be operational by 2028.

Aviva Investors has the option to increase its investment up to €150 million for Terra One's pipeline expansion. In exchange, Aviva will acquire a first stake in Terra One and take two seats on the board.

Terra One, founded in 2021, has a pipeline of assets with a total capacity of 5.8 gigawatts along the entire public storage value chain. The company plans to invest up to €750 million in new storage facilities, aiming for a cumulative capacity of about 3 gigawatt-hours.

Suena Energy, a Hamburg-based startup, has successfully completed a Series A financing round of €8 million. Led by the Dutch energy company Eneco through its investment arm Eneco Ventures, the round also included participation from 4impact capital and existing investors. The funds will be used to strengthen suena energy's position in the extra space storage market, drive international expansion, and focus on co-location systems. Suena's 'Energy Trading Autopilot' platform optimizes co-location project deployment plans for maximizing revenues and minimizing risks.

Aviva Investors' investment in Terra One will support the growth of Germany's storage near me capacity. Terra One's ambitious expansion plans, backed by Aviva's funding, aim to significantly increase the country's energy storage capabilities. Meanwhile, Suena Energy's successful Series A round positions it to drive innovation in energy trading and co-location systems.

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