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Giga Storage

Year of Investment 2022

Description of the portfolio company

GIGA Storage (GIGA) is a large scale energy storage developer, manager and operator and has successfully constructed its first two Battery Energy Storage Systems (BESS) with the Rhino in 2020 and the Buffalo in 2022.

The business model of GIGA consists of three main activities i) project development of large scale BESS for energy utilities and Renewable Energy players, ii) technical asset management where GIGA maintains the physical battery for a client and iii) commercial asset management where GIGA or its client operates the battery capacity via GIGA’s IT platform to utilize its trading and/or grid enhancing capabilities.

Investment rationale

The Energy Transition is driven by electrification of the energy mix and steeply increasing share of renewables. As the associated expansion of the grid is costly, it can be reduced by application of flexible storage assets and BESS currently is the technically and commercially proven solution, BESS is expected to carve a sustainable niche in EU grid development. GIGA has established itself as a leading Benelux player in BESS, a.o. driven by strong relationships with TSOs and DSOs.

Rabo Investments supports GIGA’s ambitious growth plans and project pipeline and supports the company in making steps to further professionalise the organisation. Rabo Investments acquired a minority stake in GIGA next to the existing founders and informal shareholders.