Future of Energy: Hogan Lovells advises ECO STOR on pioneering large-scale BESS financing

Press releases | 22 January 2026

Led by Dr. Carla Luh, global law firm Hogan Lovells has advised German-Norwegian large-scale battery storage expert ECO STOR on the financing of the Schuby large-scale battery energy storage system (BESS) project in Schleswig-Holstein, Germany.

With a capacity of 100 MW and 238 MWh, the plant currently being built by ECO STOR is one of the largest of its kind in Germany and is scheduled to go into operation in 2026. The plant consists of 64 battery containers, 32 inverter systems and a substation.

The financing is being provided by NORD/LB, which is further expanding its activities in the field of battery storage project financing. A key component of the financing structure is a tolling agreement between ECO STOR and Alpiq, which was already concluded in November 2025. This secures ECO STOR stable, market-oriented revenues over a period of five years, while Alpiq uses the storage facility for grid services and electricity trading on spot and intraday markets. The financing structure enables a scalable and replicable model for financing large-scale battery storage projects without government subsidies, thereby contributing to the further integration of storage facilities into the European electricity market.

Hogan Lovells provided ECO STOR with comprehensive advice on all legal aspects of the financing, working closely with the company's in-house legal team. The project was legally supervised on behalf of ECO STOR by Dr. Ilona Kautz-Wieczorek.

"The Schuby project impressively demonstrates that innovative contract models and a well-thought-out financing structure make it possible to put even highly complex storage projects on a stable, financial foundation. We are proud to have supported ECO STOR in the implementation of this pioneering project, which sets new standards for the energy transition not only on a technical level, but also in terms of structure," says Dr. Carla Luh, head of the German finance practice at Hogan Lovells.

Hogan Lovells team for ECO STOR GmbH

Dr. Carla Luh (Partner), Stipe Bojanić (Counsel), Tobias Ulbrich (Senior Associate), Julian Schulz, Fotios Erifopoulos (both Associate) (all Infra Finance);

Dr. Tobias Faber (Partner), Dr. Florian-Alexander Wesche (Senior Counsel), Kristina Laewen, Dr. Daniel Neudecker (both Counsel), Pia Heckenberger, Annekathrin Baron Boonstra (both Senior Associate) (all Due Diligence);

Dr. Ingmar Dörr (Partner, Tax);

Sebastian Oebels (Counsel, Capital Markets).