Baltic Storage Platform OÜ

The loan will finance Baltic Storage Platform OÜ’s investments in two 100MW/200MWh standalone Battery Energy Storage Systems (BESS) in Estonia. The two sub-projects are located in Kiisa and in Aruküla.

Both projects, located approximately 25 km from Tallinn, are fully permitted. Hertz 1, located in Kiisa, has been energised in October 2025, with commissioning scheduled for end-2025, and the full suite of grid services expected by Q1 2026. Hertz 2 is already under construction and is scheduled to enter into operation by the end of 2026.

The loan is supported by the InvestEU programme under NIB’s Framework on Clean Energy Transition.

The borrower, Baltic Storage Platform OÜ, is a joint venture (JV) between Evecon, Corsica Sole, and Mirova. The JV aims to develop, build, and maintain two large-capacity storage parks in Estonia, with a total capacity of 200 megawatts and a total energy storage capacity of 400 megawatt-hours.

The two battery storage projects are expected to bring significant benefits to the Estonian and Baltic energy systems.

Stable operation of a power system requires balancing the generation and consumption of electrical energy. Therefore, energy storage will play a key role in enhancing grid stability and flexibility by managing fluctuations in generation and demand.

The storage systems will provide stabilisation and resilience to the electricity grid in Estonia, with benefits extending to the Baltic power grids in Latvia and Lithuania. The storage systems will support the transition as the Estonian and Baltic electricity grids disconnected from the Russian grid and synchronized with the European grid earlier in 2025.

In addition, the storage systems are crucial for integrating renewable energy sources, ensuring balancing power, reducing reliance on fossil fuels, and minimizing greenhouse gas emissions to mitigate climate change. The projects are instrumental as Estonia seeks to move away from coal power plants by increasing the share of intermittent solar and wind power. The Baltic countries have ambitious targets for renewable energy capacity and carbon neutrality.

Sustainability proofing has been carried out in accordance with the InvestEU Fund requirements.

All necessary permits are in place for both sites. The project aligns with the Bank’s sustainability policy and guidelines and no sustainability risks have been identified in relation to the investments.