Norton Rose Fulbright advises ju:niz Energy on financing of battery energy storage systems in Germany

Global law firm Norton Rose Fulbright has advised ju:niz Energy GmbH on the financing of a portfolio of three large battery energy storage systems (BESS) in Germany by Hamburg Commercial Bank AG (HCOB). The facilities have a total storage capacity of approximately 100 MWh.

ju:niz Energy develops and operates large battery storage systems that can contribute to grid stability, particularly in connection with the further expansion of renewable energies. The company's value chain covers project development from land acquisition through grid connection, project management including planning, construction and commissioning, as well as technical operations, maintenance and commercial management, which includes market coordination and system performance optimization.

The financing was provided by Hamburg Commercial Bank AG (HCOB), which acted as lender, agent, account bank and hedging bank. Norton Rose Fulbright has advised ju:niz Energy on the legal structuring and implementing the financing.

Markus Binding, CFO at ju:niz Energy, on partnering with Norton Rose Fulbright:

"Financing our project portfolio was a complex process in which Norton Rose Fulbright's legal expertise was crucial. Thanks to their legal advice, we were able to implement the structuring efficiently and take an important step forward in our growth strategy."

Lead partner Veit Sahlfeld (project finance, Hamburg) commented:

"This transaction once again highlights the growing importance of battery storage for the energy transition. We are delighted to have supported ju:niz Energy on this important step."

A Norton Rose Fulbright team led by Munich partner Dr. Klaus Bader (Energy Law) had previously advised ju:niz Energy on the entry of Swedish equity investor EQT.

The team was composed of partners Veit Sahlfeld (project finance, Hamburg), Dr. Klaus Bader (energy law, Munich), Dr. Valerian von Richthofen (energy regulatory, Düsseldorf) and Dr. Simon Weppner (Tax, Düsseldorf). Counsel Dr. Michael-Alexander Volks and associate Jakob Kramer (project finance, Hamburg) contributed alongside associates Benedikt Schiller and Sebastian Jeschke (project finance, Munich), counsel Dr. Wenzel Richter and senior associate Sebastian Eisenhut (energy law, Munich), associate Dr. Jan Vogelsang (energy regulatory, Düsseldorf), associate Nicolas Krämer (corporate, Düsseldorf), and senior associate Sarah Heufelder (tax, Munich).

Hamburg Commercial Bank AG (HCOB) was advised by White & Case.