InfraVia Capital Partners (“InfraVia”), a leading European infrastructure investor, has announced the acquisition of a majority shareholding in GIGA Storage, a leading player in Battery Energy Storage System (“BESS”) development, construction, and operations in the Netherlands and Belgium. GIGA Storage is an early mover in the BESS sector in these two countries focused on innovation and sustainability, and is one of the few independent storage platforms that integrates the full value chain, from development and construction of BESS, to operations of the battery capacity via the own developed route to market, providing services to utilities and the network operators. GIGA Storage manages operational assets in the Netherlands and developed a near term pipeline of 2GW across Benelux. The transaction marks a key milestone for the company and will accelerate GIGA Storage’s growth of the development and operation of large-scale BESS sites that will underpin the energy transition initially in both countries.
The investment positions InfraVia as the majority shareholder in GIGA Storage, underscoring the firm’s commitment to accelerate the energy transition across Europe. GIGA Storage's projects will align growing, intermittent renewables generation with increasing, inelastic electricity demand, which is critical to simultaneously decarbonise the power mix and maintain a stable, reliable electricity grid. The founder-led management team will retain a significant stake in the company and will continue to lead GIGA Storage during this new accelerated phase of growth. Through this partnership, InfraVia and the management team aim to leverage the company’s proven development, construction, and operation capabilities in utility-scale storage projects to create a leading energy storage platform in Northern Europe, building on the company’s pioneering position in the Netherlands and Belgium.
Commenting on the acquisition, Athanasios Zoulovits, Partner at InfraVia, expressed enthusiasm about the partnership's potential to drive positive change in the energy sector: "We are thrilled to welcome GIGA Storage into the InfraVia family. This partnership underscores our conviction that BESS is an enabler to the decarbonisation of the European power market. We are excited to partner with the founders and management team of GIGA Storage, a team with a proven track record and great execution skills, to help them roll out an ambitious growth plan."
Similarly, Ruud Nijs, CEO of GIGA Storage, highlighted the strategic alignment between the two companies and the opportunities that the partnership offers. "Our ambition is to have a multiple of GWs of installed energy storage power in Europe in the years to come," Ruud said. "By combining our expertise with InfraVia's extensive resources and industry knowledge, we are poised to make significant strides towards reaching this ambition and driving positive environmental impact."
The terms and conditions of the transaction are not disclosed and closing is envisaged to occur in the coming months.
GIGA Storage was advised by Rabobank M&A (financial advisor) and Clifford Chance (legal advisor). InfraVia was advised by ABN Amro M&A (financial advisor and debt advisor ) and A&O Shearman (legal advisor). Further Rabo Investments, the initial formal investor in GIGA Storage, will be exiting. GIGA Storage expresses gratitude for their early-stage participation.
