Aukera Closes €460M EIG Credit Facility for EU Storage
September 8, 2026 — Aukera, a pan-European battery storage and renewable energy platform, has closed a €460 million structured credit facility led by institutional investor EIG. The deal converts a previously uncommitted €250 million accordion option into a firm €260 million Series 2 tranche, bringing total committed capital to €460 million to fund projects across five European markets.
Key Takeaways
- Aukera closed a €460 million structured credit facility, with EIG serving as lead investor.
- The facility upsizes an original €200 million commitment by converting a €250 million accordion feature into a firmly committed €260 million Series 2 tranche.
- Aukera develops, finances, constructs and operates renewable energy and battery storage projects across five European markets: Belgium, the United Kingdom, Germany, Romania and Italy.
- Aukera reports close to 1 GW of projects in construction or operation and a 14 GW development pipeline across Europe.
- Aukera is backed by AtlasInvest, Reggeborgh and Belgium’s sovereign wealth fund SFPIM.
Institutional investor EIG led the investment, which will support Aukera’s expanding energy infrastructure portfolio.
How the Facility Was Structured
The original agreement provided Aukera with a €200 million initial commitment. It also included an accordion option for an additional €250 million. The amended terms converted this accordion into a committed €260 million Series 2 tranche. This change increases the total committed financing to €460 million.
In infrastructure finance, an accordion feature allows for a pre-negotiated option to expand a credit line. This can be done without renegotiating the entire deal. Converting it into a committed tranche removes uncertainty. It also guarantees the borrower access to the full amount.
What the Capital Will Fund
Aukera has secured additional financing for its projects. This funding will support the ongoing development of renewable energy generation, battery storage, and other energy infrastructure. Aukera operates in five European markets: Belgium, the United Kingdom, Germany, Romania, and Italy. The company currently has nearly 1 GW of projects either under construction or in operation. Aukera has 14 GW of renewable energy and infrastructure projects in development and nearly 1 GW in construction or operation across five European markets: Belgium, the UK, Germany, Romania, and Italy.
Why It Matters
Europe’s push to expand grid-scale battery storage is central to integrating growing shares of wind and solar power. Aukera’s co-founders, Catalin Breaban and Pascal Emsens, argue that the continent needs to roughly quadruple its current battery storage capacity to hit the EU’s target of 200 GW by 2030, a figure that underscores the scale of financing infrastructure platforms like Aukera say they need. Upsized credit facilities let developers commit capital across multiple projects and markets at once, rather than raising financing for each project, which can speed up deployment timelines across the industry.
What the Companies Said
Catalin Breaban and Pascal Emsens, Co-Founders of Aukera, commented:
“We believe Europe needs to at least quadruple its battery storage capacity to reach the EU’s 200 GW target by 2030. That requires not just capital, but teams and platforms that can deliver complex infrastructure repeatedly, on time, on budget and across multiple markets. This facility with EIG gives Aukera the financial depth to do exactly that. With close to 1 GW in construction or operation today, a 14 GW pipeline, and a team with deep expertise across development, financing, delivery, revenue optimisation and sophisticated asset management, we expect Aukera to emerge as one of Europe’s established battery storage and renewable energy platforms. We are well positioned to continue building the infrastructure that supports Europe’s evolving energy system.”Rob Johnson, President & CIO, EIG Credit Management, commented:
“We are pleased to expand our relationship with Aukera through this significantly upsized facility. Aukera has built a diversified portfolio across several European markets, supported by an experienced team with capabilities spanning project development, financing, construction and operations. This transaction reflects EIG’s confidence in the Aukera team and strategy, as well as our focus on providing flexible capital solutions to established energy infrastructure platforms.”
Source: AUKERA
Deal Advisers
The transaction involved a wide roster of advisers: Nomura Greentech acted as financial adviser to Aukera as issuer; A&O Shearman served as legal counsel to Aukera White & Case advised the investor side on legal matters Watson Farley & Williams conducted legal due diligence; RINA Consulting handled technical due diligence Forvis Mazars covered modeling, financial and tax matters and Aurora Energy Research conducted market due diligence.
FAQ
It is an upsized credit facility that gives Aukera €460 million in total committed capital, led by institutional investor EIG. It converts a previously optional €250 million accordion feature from an earlier €200 million facility into a firmly committed €260 million Series 2 tranche.
The capital will support the development, financing, construction and operation of renewable energy generation, battery storage and broader energy infrastructure projects across Aukera’s five European markets: Belgium, the United Kingdom, Germany, Romania and Italy.
Aukera is backed by AtlasInvest, Reggeborgh and SFPIM, Belgium’s sovereign wealth fund. The company was co-founded by Catalin Breaban and Pascal Emsens.
According to Aukera’s co-founders, Europe needs to roughly quadruple its current battery storage capacity to meet the EU’s target of 200 GW by 2030. This figure comes from company statements rather than an independently cited EU source in the original material
I'm Amelia Bonner, an energy storage researcher and technical content writer focused on the technologies shaping the future of reliable, flexible, and sustainable energy systems. My work explores battery energy storage, grid-scale storage, renewable energy integration, battery technologies, and emerging energy storage solutions.
