Enterprise ESS system project financing options in Belgium 2025

Is ESG financing a battery energy storage system in Belgium?

Energy Solutions Group (ESG) announced today that it has completed project financing for a 75-MW/300-MWh battery energy storage system (BESS) under construction in Belgium. The Megapack battery system. Source: Tesla Inc The financing was arranged by KBC Bank and Wallonie Entreprendre.

Who financing Bess projects in Belgium?

The commercial financing is provided by KBC Bank (senior loan provider) and Wallonie Entreprendre (junior loan provider) and marks a significant advancement in the financing of BESS projects in Belgium. Large-scale battery energy storage is needed to reliably integrate increasing volumes of renewables on the Belgian grid.

Who financed the Bess project?

The financing was arranged by KBC Bank and Wallonie Entreprendre. The latter announced separately that its own contribution stands at EUR 15 million (USD 15.4m). The BESS facility is being built on an industrial site next to an Elia high-voltage substation in Harmignies, part of the municipality of Mons in the Walloon region.

When will ESG be operational?

The site is expected to become operational by the autumn of 2025. Project partners include Spie, Yuso, Sweco and House of Projects. ESG is active in the field of solar energy, wind energy, rapid charging infrastructure and energy storage. In December, ESG wrapped up a EUR-60-million capital raise led by Alpha Renewable Energy Fund and by SFPIM.

Who are ESG's project partners?

ESG chief technology officer Frederik Jansen named Spie, Yuso, Sweco, and House of Projects as project partners, Loyens&Loeff as legal adviser, KBC Bank as senior loan provider and Wallonie Entreprendre as junior loan provider.