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.
Loyens & Loeff advised Energy Solutions Group, the largest
independent producer of green energy in the Benelux area, with the
financing of their first large-scale battery energy storage system
in Harmignies. 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. The
large-scale BESS project in Harmignies, part of the municipality of
Mons in the Walloon region, is located on an industrial site next
to an ELIA high-voltage substation. The project is currently under
construction and consists of 82 Tesla Megapacks 2XL and can deliver
75MW of power for 4 hours non-stop, expected to become operational
in Q4 2025.
The Loyens & Loeff team, composed of members of our Immovable
Property and Banking & Finance expertise groups, acted as legal
advisor to ESG. Our assistance included due diligence, the drafting
of the project documentation and loan documentation as well as the
negotiations between ESG, project parties and lenders. We
congratulate ESG and their lenders and are proud that Loyens &
Loeff could contribute to the success of this landmark and
groundbreaking project.