Brookfield’s X-ELIO and NIC invest in German battery storage firm Eco Stor

Eco Stor is a battery storage project developer and battery energy storage system (BESS) integrator. After this deal, X-ELIO, NIC, company management and ‘certain existing shareholders’ will continue to invest in progressing the company’s BESS project pipeline in Germany, which totals 6GW.

This does not appear to be a full sell-down by A Energy (through Agder Energi Venture), however, with Eco Stor CEO Trygve Burchardt commenting: “We are very pleased to now announce that X-ELIO and NIC will be investing in ECO STOR together with the continued support from Å Energy.”

It comes a few weeks after another German BESS developer, Kyon Energy, was acquired by oil and gas major TotalEnergies. Kyon and Eco Stor have partnered on projects in the past.

It grows X-ELIO’s energy storage market presence into Germany, with assets under construction, operation or fully permitted for construction in Australia, Chile and the US. Global infrastructure investment firm Brookfield has been 100% owner of X-ELIO since March 2023. 

For NIC, the deal grows its presence in the German clean energy market after it acquired 100% of solar PV project developer MaxSolar in 2022.

Read all Energy-Storage.news’ coverage of the German energy storage market here, including the launch of the government’s Energy Storage Strategy and the start of construction at what has been claimed as the country’s largest BESS.

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