LFP battery system project financing options in Belgium 2026

Who financed a battery energy storage system in Harmignies?

Our Belgian Immovable Property and Banking & Finance team advised Energy Solutions Group on the financing of their first large-scale battery energy storage system in Harmignies, Belgium. This milestone project marks a significant step in advancing renewable energy integration into the Belgian grid.

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.

How many energy storage projects are there in Belgium?

A quick look at the European Energy Storage Inventory public database hosted by the European Commission (EC) JRC Smart Electricity Systems initiative using data from Wood Mackenzie highlights 21 operational energy storage projects in the Netherlands and only 12 in Belgium.

Is Belgium ripe for battery storage development?

Belgium and its neighbour, the Netherlands, have been talked about by industry and analysts as being ripe for battery storage development.

Are merchant-exposed projects sourcing project finance in Belgium?

“We have seen similar or even much bigger merchant-exposed projects sourcing a large share of their financing through project finance in the Netherlands recently, but Belgium is a bit more complex market,” BStor’s Pierre Bayart said.

What projects are being built in Belgium?

The trio’s consortium has previously worked on ESTOR-LUX (10MW/20MWh), Belgium’s first high-voltage grid-connected BESS, which went online at the end of 2021. It is currently also working on D-STOR, a 50MW/140MWh project for which financial close was achieved in Q3 2024, and construction began earlier this year.