Clifford Chance advises financing parties on Förderstedt battery storage construction
Clifford Chance has advised the financing parties in connection with a facilities agreement supporting the construction and operation of battery storage assets in Förderstedt, Saxony-Anhalt, Germany. The financing was provided to Eco Power Three GmbH, a subsidiary of Eco Stor GmbH, by Banco Santander, S.A. Frankfurt Branch and Norddeutsche Landesbank – Girozentrale – as original lenders and comprises term loan and letter of credit facilities.
The “Eco Power Three” project will deliver a battery storage facility with a planned output of 300 megawatts (MW) and a capacity exceeding 700 megawatt hours (MWh). Upon completion, the facility will be capable of supplying up to 500,000 households with electricity for approximately two hours. The project is structured into three independently operable blocks, allowing for a phased commissioning, with the first units expected to be connected to the grid in the second half of 2026.
The Clifford Chance team
The Clifford Chance team comprised partners Florian Mahler (pictured left) and Bahar Rahimyar (pictured right, both project development & finance, Düsseldorf), with senior associate Brianna Harcus and senior transaction lawyer Rima Lenders, and associate Maximilian Schroff (all project development & finance, Düsseldorf). Project due diligence was led by of counsel Björn Heinlein, supported by senior associate Marie Georgi and associate Benedikt Behlert (all corporate/energy, Düsseldorf). Hedging advice was provided by partner David Neu and senior associate Christopher Banks (both Debt Finance, Munich), tax advice was given by partner Dominik Engl and counsel Claus‑Peter Knöller (both tax, Frankfurt) and corporate due diligence was conducted by partner Tobias Nogami Kamerling and associate Yannik Trauschold (both corporate/energy, Düsseldorf).
