summary of the Hertz 1 & Hertz 2 Battery Storage Projects in Estonia
this text details the development of two large-scale battery storage projects, Hertz 1 and Hertz 2, located near Üla, estonia (approximately 24km from Tallinn). Here’s a breakdown of the key information:
Project Overview:
* Capacity: Combined 200 MW capacity and 400 MWh storage.
* Significance: Will be one of the largest battery complexes in continental Europe.
* Purpose: To stabilize the Baltic electricity grid following synchronization with the European grid and accelerate the transition away from fossil fuels.
* Innovation: Hertz 1 utilizes a first-of-its-kind underground cable connection to the 330 kV transmission network in Estonia, enhancing grid resilience and renewable energy integration.
Timeline:
* Hertz 1: Activated in October 2025,operational by the end of 2025,full network service functionality by Q1 2026.
* Hertz 2: Under construction, scheduled to be operational by December 2026.
Key Players:
* Evecon: Project developer, CEO Karl-Joonatan Kvell.
* Corsica Sole: Installer, bringing experience from French islands and Belgium. CEO Michael Coudyser.
* Mirova: Investor, represented by Raphaël Lance.
* NIB (Nordic Investment bank): Investor, represented by André Küüsvekas.
* Edmond de Rothschild AM (BRIDGE): Investor, represented by Jean-Francis Dusch and Shirley Chojnacki.
* EBRD (European Bank for Reconstruction and Development): Investor, represented by Grzegorz zielinski.
Funding & Investment Highlights:
* The projects are attracting notable investment, demonstrating the economic viability of large-scale energy storage.
* Investors emphasize the projects’ contribution to energy security, climate goals, and the integration of renewable energy.
Advisors:
* Investor Advisors: Astris Finance, linklaters, cobalt, AG Law, Advokaadibüroo RASK.
* Creditor Advisors: A&O Shearman, Ellex, Clean Horizon, Everoze, WSP, WTW, EY.
In essence, the Hertz 1 & Hertz 2 projects represent a significant investment in the future of energy in the Baltic region, bolstering grid stability, promoting renewable energy adoption, and enhancing energy independence.
