Aquila Capital, Nippon Koei acquires 25 MW/100 MWh battery storage project in Ruien

German asset manager Aquila Capital Investmentgesellschaft mbH has partnered with Japanese engineering company Nippon Koei Co Ltd to acquire a 25 MW/100 MWh battery storage project located in Ruien, Belgium. 

The joint venture of the companies will finance the procurement of the project, build and operate the battery energy storage system that will be constructed in a former 800 MW coal-fired power plant location. The project has reached a financial close. 

Nippon Koei has initially developed the project with Belgian green energy outfit Yuso BV serving as co-developer. Yuso will optimize the project for the next ten years. 

Financial details of the transaction were not disclosed.