Fresh funding boost for German battery storage players

Berlin-based Terra One has secured €150 million mezzanine financing from Aviva Investors, the global asset management arm of UK-based financial services giant Aviva plc, to accelerate the expansion of its battery energy storage portfolio – primarily across Germany.

The financing deal includes an initial €75 million commitment from Aviva Investors, complemented by €15 million in equity from Terra One, to support the construction of approximately 500 MW of battery storage capacity. These assets are expected to come online by 2028. The agreement also includes the potential for Aviva Investors to top up its investment in future phases.

The total commitment enables Aviva Investors to invest up to €150 million, supporting the build-out of Terra One’s late-stage development pipeline. As part of its investment Aviva Investors will acquire an initial shareholding in Terra One and take two seats on the company’s board.

Alongside equity and project financing, the fresh funding will enable Terra One to invest up to €750 million in new storage assets with the goal to roll out approximately 3 GWh of cumulative capacity.

Founded in 2021 , Terra One is technology company that develops and operates battery storage systems in Europe. The company is also developing AI-based models to autonomously operate and optimize its storage systems.

Terra One currently has a pipeline of assets across the entire BESS value chain totalling 5.8 GW, including projects under development, those under construction and operational assets which the company manages in-house.

suena eyes international expansion

Meanwhile, Hamburg-based suena energy has successfully closed an €8 million Series A funding round. The round was led by Dutch energy company Eneco through its investment arm Eneco Ventures and joined by impact venture capital fund 4impact capital. Existing investors InnoEnergy, J.O.S.S., Santander, and Energie 360° also participated.

suena will use the fresh capital to strengthen its position in the rapidly growing energy storage market, focusing on international expansion, scaling its business model, and growing its presence in the optimization of colocated renewable energy and storage assets.

Colocated energy systems represent a fast-growing segment, and real-time optimization of these complex hybrid assets is now a critical capability in the energy market.

suena energy’s proprietary Energy Trading Autopilot enables fully automated, AI-driven trading of flexibilities across all relevant power and ancillary service markets. The platform leverages real-time data and forecasts to generate optimal dispatch schedules with the goal of maximizing revenues while minimizing both operational risk and battery degradation.