Lion Storage Secures Financing for One of Europe’s Largest Battery Energy Storage Systems

Lion Storage Secures Financing for One of Europe’s Largest Battery Energy Storage Systems

(IN BRIEF) Lion Storage, a Dutch energy storage developer, has reached financial close on the Mufasa project, set to become one of Europe’s largest battery energy storage systems (BESS). With a storage capacity of 1,400MWh and a power capacity of 350MW, the project is a significant step in supporting the Netherlands’ renewable energy transition, and it is expected to become operational by mid-2027.

(PRESS RELEASE) ROTTERDAM, 18-Feb-2025 — /EuropaWire/ — Lion Storage, a part of Return, has successfully closed financing for its ambitious Project Mufasa, set to develop one of Europe’s largest battery energy storage systems (BESS). With a remarkable storage capacity of 1,400MWh and a power output of 350MW, Mufasa is expected to become operational in the first half of 2027, marking a pivotal milestone in the Netherlands’ renewable energy transition.

The BESS will be located in Vlissingen, within the North Sea Port—one of the Netherlands’ key renewable energy hubs. Its strategic location allows for seamless connection to a high voltage substation, facilitating its integration into the national energy grid. This project represents a major leap forward in the country’s push toward a more sustainable and resilient energy system.

Mufasa’s storage system, equipped with Tesla batteries, will be capable of charging and discharging 1,400MWh at 350MW multiple times daily. This capacity is enough to meet the energy needs of over 200,000 households. As the largest BESS in the Netherlands and one of Europe’s most significant energy storage projects, Mufasa will play a crucial role in balancing power grids and ensuring reliable electricity supply. Eneco, a Dutch energy company, will operate the system daily, using it to manage fluctuations in supply and demand while supporting the delivery of renewable energy.

The project has secured backing from Macquarie Capital as the lead equity investor, alongside TINC and existing investors from Return. Six banks also participated in the financing, bringing deep expertise in funding energy transition initiatives. This diverse group of stakeholders underscores the growing support for energy storage as a critical component of the future energy infrastructure.

Mufasa stands out as the largest utility-scale battery storage project in the Netherlands to be fully financed with over EUR 350 million in non-recourse project financing. This milestone demonstrates the confidence that both project finance banks and global infrastructure investors have in battery storage technology as part of the energy transition. By backing the project, these investors are not only contributing to the stabilization of the Netherlands’ power grid but also helping reduce congestion and enhance the reliability of sustainable electricity supply.

Media Contact:

Rianne de Voogt
Senior woordvoerder
rianne.devoogt@eneco.com
+31 6 11418016

SOURCE: Eneco