Baker McKenzie advises Junction Growth Investors on its investment in Entrix

Baker McKenzie has advised a consortium of investors led by Junction Growth Investors, Korys and BNP Paribas (via its Solar Impulse Venture Fund) in connection with the financing of flexibility marketer and battery optimizer Entrix. The advice comprised inter alia the legal due diligence of various flexibility marketing and optimization agreements, including tolling agreements. Another focus was on financial regulatory compliance, including REMIT requirements.

The consortium of investors has now committed EUR 43 million in additional capital into Entrix. Besides Junction Growth Investors, Korys and BNP Paribas Entrix' investors include insurance company Allianz, AENU, Enpal, Abacon (Büll Family Office) and Arvantis Group. With the financing, Entrix intends to further accelerate growth in its core markets in Europe and drive the expansion of its battery storage systems (BESS) marketing portfolio. Entrix also wants to invest in the further technological development of its optimization and trading platform.

Entrix has reached 3 GW / 8.5 GWh of battery storage capacity under contract in Europe, marking a crucial milestone in the company's development into the European market leader for flexible energy trading. Of the contracted BESS portfolio, 2 GW will be operational within 2026. The company manages more than 70 BESS - from stand-alone projects to co-location solar plus battery models - and has local teams in Germany, Italy, Spain and Poland, among others.

"The transaction required a deep understanding of the market and regulatory expertise. Our many years of experience in the due diligence of flexibility marketing and optimization agreements were decisive for this," commented Claire Dietz-Polte, lead partner of the transaction. Baker McKenzie's energy and infrastructure team regularly advises utilities, investors, industrial companies, developers and banks on investments in and project development of battery storage systems. Baker McKenzie advises on the entire project cycle, including land security, planning and permitting issues, EPC, O&M and commercialization agreements, and financing.


Legal adviser to Junction Growth Investors:
Baker McKenzie:

Lead:
Projects/Energy & Infrastructure: Dr. Claire Dietz-Polte (partner, Berlin)

Team:
Projects/Energy & Infrastructure: David Haverbeke (partner, Brussels)
Banking & Finance:
Dr. Conrad Ruppel (partner, Frankfurt), Katharina Wollmert-Schrewe (associate, Frankfurt)