Blackvolt Energy Closes one of Austria’s First Fully Merchant Institutional Project Financing for a Utility-Scale Standalone Battery Storage System
Vienna, Austria — 27 March 2026 — Blackvolt Energy GmbH ("Blackvolt"), an Austrian full-scope development platform of utility-scale battery energy storage systems ("BESS"), today announced the successful closing of a senior secured term loan facility in a double-digit million-euro amount with Raiffeisen-Landesbank Steiermark ("RLB Steiermark") for the construction financing of an 18 MW / 36 MWh standalone BESS project located in Oberndorf bei Salzburg (Project "Orlando"). The facility was priced on terms competitive with recent Austrian solar PV and onshore wind financings.
This transaction sets a precedent for institutional financing of merchant battery storage in Austria and establishes BESS as a bankable asset class without subsidies — structured without long-term contracted revenues or public support schemes. It is a landmark demonstration that an institutional, long-term debt market for stand-alone battery storage now exists in Austria, with pricing that reflects genuine lender confidence rather than a risk premium for novelty. This transaction establishes the blueprint for a scalable, institutionally financed BESS platform and marks Blackvolt’s transition towards becoming an asset-owning, operating IPP.
Building on this milestone, Blackvolt plans to bring a further seven BESS assets into construction by end of 2026 and is targeting approximately 200 MW of additional financing across Austria over the next 12 months.
Blackvolt’s financing strategy is deliberately structured to preserve equity capital across its full pipeline enabling the company to progress assets in parallel, maximise its first-mover advantage in secured grid positions, and sustain momentum across a scalable 340 MW fully permitted portfolio with a development pipeline exceeding 1.2 GW.
The project code-named “Orlando” is fully permitted, with all land rights, regulatory approvals and unconstrained grid access secured. It represents the first standalone BESS project in Salzburg, underscoring the role of energy storage in enhancing energy independence and supporting a stable, renewable-based power system. Commercial operations are expected in Q1 2027. The project’s route-to-market strategy will be managed by enspired Trading GmbH, an algorithmic power trading firm active across European short-term power markets.
Heinrich & Mortinger GmbH acted as exclusive financial advisor to Blackvolt on the transaction. Schönherr Rechtsanwälte GmbH acted as legal counsel to Blackvolt, and Wolf Theiss Rechtsanwälte GmbH & Co KG acted as legal counsel to RLB Steiermark.
“This financing marks a significant milestone — not only for Blackvolt, but for the Austrian energy storage market as a whole. As volatility in European power markets increases and renewable penetration accelerates, battery storage is becoming critical infrastructure for system stability. This transaction confirms that merchant BESS projects are bankable and can attract institutional capital in Austria. Achieving this without contracted revenues or state support reflects both the quality of what we have developed and the growing confidence of sophisticated lenders in the BESS asset class.
For us, this is proof of concept. We have built this platform to develop assets to the highest possible standard — fully permitted, grid-connected, and investment-ready. Critically, our financing strategy is designed to preserve equity so we can progress our entire pipeline, not just one project. That means we are now positioned to bring approximately 7 further assets into construction through the end of this year, with approximately 200 MW of additional financings targeted across Austria over the next 12 months.
This marks Blackvolt’s transition into a long-term asset owner and operator, building one of Austria’s leading independent power producer (IPP) platforms. We are proud to have partnered with RLB Steiermark, whose understanding of the regional energy landscape and willingness to lead in this asset class made this transaction possible.”
“We are pleased to support Blackvolt in delivering this project in Oberndorf. Battery storage will play a critical role in strengthening Austria’s energy security by enabling the reliable integration of renewable generation and supporting overall system stability. As the energy system continues to evolve, flexible infrastructure such as BESS will become increasingly important. This transaction reflects our commitment to financing essential, future-oriented energy infrastructure in Austria.”