Hogan Lovells advises Santander on the financing of Obton’s first high-voltage BESS in Germany
Under the leadership of partner Dr. Carla Luh (PICTURED), Hogan Lovells has advised Banco Santander on the long-term senior debt financing for Danish renewable energy investor Obton’s first standalone high-voltage battery storage system in Germany.
The facility, located in Lower Saxony, will have a capacity of 137.5 MW and an energy storage volume of 284 MWh. The project has been financed through a combination of senior and junior debt.
Battery Energy Storage Systems (BESS) enable the storage of energy — often generated from renewable sources — for later use during peak consumption periods. They contribute to reducing energy costs, ensuring the security of supply with clean energy, and minimizing downtime caused by periods of low renewable generation.
Dr. Carla Luh, Head of the German Finance practice at Hogan Lovells, commented: “This project ranks among the largest BESS financings currently underway in Germany and marks an important milestone in the expansion of renewable energy infrastructure. We are pleased to contribute to this effort and to further strengthen our successful track record in financing large-scale energy transition projects.”
The Hogan Lovells team drew on its extensive expertise in energy transition financing to develop a tailored structure that aligned with the strategic objectives of both the lenders and Obton.
Hogan Lovells team for Santander:
- Finance: Dr. Carla Luh (Partner), Tobias Ulbrich, Dr. Marzieh Rad (both Lead Associates), Dr. Alexander Wandt (Counsel), Julian Schulz (Associate), Oliver Hamilton (Senior Associate);
- Due Diligence: Kristina Laewen (Senior Associate), Pia Heckenberger, Alan James-Schulz, Terfé Gerotto (all Associates).
