Berlin’s Terra One raises €150 million to lead energy transition in Europe with battery storage portfolio

Terra One, a German developer of grid-scale battery storage systems, has secured up to €150 million in mezzanine financing from Aviva Investors. Alongside equity and project financing, these funds will enable Terra One to invest up to €750 million in new storage assets.

This will enable the company to build up a total capacity of around 3 GWh – which is enough to meet the electricity needs of approximately 20% of all German households for one hour. Germany has approximately 41 million households (as of 2024/2025).

“This financing is a milestone for Terra One and for the energy transition in Europe,” said Tony Schumacher, Founder and CEO of Terra One. “With Aviva Investors at our side, we can accelerate the expansion of large-scale battery storage significantly. In doing so, we are making a decisive contribution to security of supply and making Europe’s energy system more independent and resilient. At the same time, the hybrid financing structure gives us the flexibility and scalability we need to establish Terra One as one of the leading independent storage developers in Europe.”

Founded in 2022, Terra One develops, finances, and operates grid-scale battery storage projects that provide flexibility to power systems increasingly reliant on renewable energy. Its proprietary machine-learning trading platform optimises asset performance across wholesale and ancillary markets, enabling secure, affordable, and sustainable power for Europe.

Their algorithmic power trading platform uses a machine-learning architecture to operate their batteries autonomously.

“Energy storage is the backbone of a carbon-neutral future,” added Adam Irwin, Director  Infrastructure Equity at Aviva Investors. “We are investing in Terra One because the company has proven its ability to deliver projects quickly, reliably, and to the highest standards. Together, we aim to take the European storage market to the next level and accelerate the transformation of Europe’s energy systems.”

As the energy transition progresses, market volatility and the strain on electricity grids are increasing. Battery storage systems are crucial for integrating renewable energies, stabilising grids and strengthening European energy independence.

Terra One combines project expertise, innovative financing structures and an AI-based trading platform. This makes the company a leading partner for grid operators, banks and investors in the dynamically growing storage market.

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