Clifford Chance advises GIGA Storage and Giga Giraffe on the financing of Giraffe Energy Storage Project, the first 4-hour battery in the Netherlands

Clifford Chance advises GIGA Storage and Giga Giraffe on the financing of Giraffe Energy Storage Project, the first 4-hour battery in the Netherlands

Global law firm Clifford Chance has advised large-scale energy storage projects developer GIGA Storage and Giga Giraffe on the financing of GIGA Giraffe, an energy storage project in the port area of Amsterdam. At 47 MWh, this battery will be the first 4-hour battery in the Netherlands and the same size as the GIGA Buffalo battery in Lelystad.

The GIGA Giraffe is a 10 MW and 47 MWh storage project and enables the electricity network to store the energy peaks during sunny hours and keep the energy system in balance with a growing share of unpredictable but sustainable energy generation. The battery can charge or discharge for four hours, making it suitable for participating in the Dutch day-ahead and intraday electricity markets.

Construction will start on the GIGA Giraffe battery on Westhavenweg in the summer of 2024, which will be connected to Liander's Sextantweg substation. The battery will use the reserve capacity on the transport network, preventing transport restrictions. The battery will be connected in the first quarter of 2025. Read more about the transaction here.

This transaction builds on Clifford Chance's market-leading Energy & Infrastructure practice and track-record of advising on the financing of large-scale energy storage projects . The Clifford Chance team was led by Hein Tonnaer and further consisted of Carlijn Tenge, Chris Verheesen and Brittany Freling.