Noerr advises Nature Infrastructure Capital and X-ELIO on investment in battery storage specialist ECO STOR

Noerr, together with US law firm Ropes & Gray, have advised the private equity firm Nature Infrastructure Capital (NIC) on another transaction in Germany.

A consortium comprising of NIC and Brookfield-backed X-ELIO have made a substantial investment in ECO STOR GmbH, a leading developer and supplier of battery storage systems. Both investors have agreed a strategic partnership with Å Energi Invest and other existing shareholders. A team led by Hamburg partners Christoph Spiering and Vanessa Hoffmann Linhard have advised the consortium on such investment and the related acquisition of a majority stake in ECO STOR.

The investment in ECO STOR is another important step for NIC in expanding its presence in the German and European renewable energy markets. In April 2022, NIC, together with Greenvolt, had acquired the PV developer MaxSolar and a Noerr team led by Christoph Spiering had advised the consortium on such investment. Battery storage technology is one of the core elements of the energy transition in Germany. With its Scale Battery Energy Storage Systems (BESS), Munich-based ECO STOR is taking a leading role in the market segment of clean and decentralised energy storage solutions.

NIC is a global private equity firm that invests mainly in renewable energy and infrastructure, including decentralised generation platforms and energy storage. X-Elio is a Spanish renewable energies investor and a global leader in sustainable energy development.

This transaction represents another significant infrastructure instruction of Noerr’s Infrastructure & Energy M&A team, such team having recently advised Foresight with teams led by Tibor Fedke on various billion-euro green hydrogen production plant projects.

German Law Advisors to Nature Infrastructure Capital: Noerr Partnerschaftsgesellschaft mbB

Lead: Christoph Spiering (partner), Vanessa Hoffmann Linhard (associated partner, both Corporate/M&A, Hamburg)

Corporate/M&A: Jan Lohse (associate), Kevin Stumme (associate, both Hamburg)

Employment & Pensions: Johannes Allmendinger (associated partner, Frankfurt)

Construction and Project Contracts: Volker Bock (partner), Johann Bruder (senior associate, both Dresden)

Energy: Martin Geipel (partner), Patrick Jäger (senior associate), Filiz Wölfle (associate, all Berlin)

IP: Fabian Kunkel (senior associate), Katja Steinthaler (senior associate, both Munich)

Antitrust & Competition: Sarah Blazek (partner, Munich), Robert Pahlen (counsel, Berlin)

Foreign Trade: Till Steinvorth (partner), Jan-Hendrik Fitzl (senior-associate, both Hamburg)

Real Estate: Henrik Dornscheidt (associated partner), Anna-Lena Heilker (associate), Fabienne Wendik (associate, all Düsseldorf)

Regulatory: Henrik Schlutt (counsel, Berlin)