Vienna, Austria — March 27, 2026 — Blackvolt Energy GmbH ("Blackvolt"), an Austrian development platform for utility-scale battery energy storage systems ("BESS"), today closed a long-term, senior secured financing in the double-digit million euro range with Raiffeisen-Landesbank Steiermark ("RLB Steiermark"). The financing supports the construction of an 18 MW / 36 MWh stand-alone battery storage project in Oberndorf bei Salzburg (Project "Orlando"). The financing terms are at a level comparable to established technologies such as photovoltaics and onshore wind.
The transaction marks a significant development step for the Austrian market. For the first time, a merchant utility-scale battery storage project in Austria is being financed on a long-term, institutional basis, without the backing of subsidies, long-term offtake agreements, or public support mechanisms. This demonstrates that battery storage functions as a stand-alone bankable asset class.
The result is clear evidence that Austria now has an institutional, long-term debt market for stand-alone battery storage, with pricing that reflects genuine confidence from financing partners and carries no material risk premium tied to the novelty of the asset class. The transaction is a central building block for the development of a scalable, institutionally financeable BESS portfolio and for Blackvolt's continued evolution into an asset owner and independent power producer ("IPP").
Blackvolt plans to bring seven additional battery storage projects into construction by the end of 2026 and to structure additional financings for approximately 200 MW in Austria over the next twelve months. Blackvolt's financing strategy is deliberately designed to deploy equity efficiently across the full pipeline. This allows the company to advance multiple projects in parallel, continue to secure attractive grid connection points at an early stage, and scale its fully permitted 340 MW pipeline and its development pipeline of more than 1.2 GW efficiently.
Project "Orlando" holds all required permits, secured land rights, and an unrestricted grid connection. It is the first stand-alone utility-scale battery storage project in the federal state of Salzburg and underscores the growing role of energy storage for security of supply and the development of a stable, renewable energy system. Commercial operations are scheduled to begin in the first quarter of 2027. The trading and marketing strategy will be implemented by enspired Trading GmbH.
Heinrich & Mortinger GmbH acted as exclusive financial advisor to Blackvolt on the transaction. Schönherr Rechtsanwälte GmbH advised Blackvolt as legal counsel, while Wolf Theiss Rechtsanwälte GmbH & Co KG acted as legal counsel to RLB Steiermark.
"This financing is an important milestone, not just for Blackvolt, but for the Austrian utility-scale battery storage market as a whole. This transaction shows that market-based battery storage projects in Austria are financeable and can attract institutional capital. The fact that we achieved this without long-term revenue contracts or government support speaks both to the quality of our projects and to the growing confidence of experienced lenders in battery storage as an asset class."
"For us, this is the definitive proof point. We have built our platform to develop projects to the highest standard: fully permitted, grid-secured, and investable. The critical piece is our financing strategy, designed to preserve equity so that we can advance our entire pipeline in parallel. As a result, we are now in a position to bring around seven additional facilities into construction by year-end and to close additional financings for approximately 200 MW in Austria over the next twelve months."
"With this step, Blackvolt is transitioning into a long-term owner and operator of energy storage assets and is building one of Austria's leading independent power producer ("IPP") platforms. We are proud of our partnership with RLB Steiermark, whose deep understanding of the regional energy market and willingness to lead in this asset class made this transaction possible."
"We are pleased to support Blackvolt in implementing this project in Oberndorf. Battery storage will play a central role in strengthening security of supply in Austria by enabling the reliable integration of renewable energies and contributing to the stability of the overall electricity system. As the energy system continues to evolve, flexible infrastructure such as battery storage is becoming increasingly important. This transaction underscores our clear commitment to financing essential, forward-looking energy infrastructure in Austria."
Transaction Parties
- Borrower
- BV Leanda GmbH (a wholly owned subsidiary of Blackvolt Energy GmbH)
- Lender
- Raiffeisen-Landesbank Steiermark AG
- Exclusive Financial Advisor
- Heinrich & Mortinger GmbH
- Legal Counsel to the Borrower
- Schönherr Rechtsanwälte GmbH
- Legal Counsel to the Lender
- Wolf Theiss Rechtsanwälte GmbH & Co KG (Austrian law); GSK Stockmann (German law)
About Blackvolt
Blackvolt Energy GmbH is an Austrian developer and operator of stand-alone utility-scale battery energy storage systems. The company is building Austria's largest battery storage platform, with approximately 340 MW of ready-to-build projects and a scalable development pipeline of more than 1.2 GW. Through early-secured grid connection points, an integrated development team, and strategic partnerships with leading EPC contractors and technology providers, Blackvolt has established a strong first-mover position in the Austrian battery storage market. The company is backed by Clarence Capital Partners. For more information, visit www.blackvolt.at.
About Raiffeisen-Landesbank Steiermark
Raiffeisen-Landesbank Steiermark is a regional Austrian bank headquartered in Graz and the central institution of the Raiffeisen Banking Group in Styria. Since its founding in 1927, RLB Steiermark has served more than 70,000 corporate and private clients. RLB Steiermark is one of the leading financial institutions in southern Austria and a member of the UN Global Compact. For more information, visit www.raiffeisen.at/stmk.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those anticipated in these statements.
