Aquila Clean Energy, a developer of integrated and hybrid clean energy solutions, sold a ready-to-build 50 MW/100 MWh battery energy storage project in Lithuania to Energy Gates, an investment management firm focused on developing large-scale renewable energy projects across the Baltic countries.
The battery storage project is designed with a two-hour storage capacity, providing flexible services to the Lithuanian power systems, supporting grid stability, renewable energy integration, and energy security across the Baltic region.
The project has secured all the key development milestones, clearing the way for near-term construction and operation. The transaction was completed on December 31, 2025.
EY Parthenon served as the financial advisor, and Esteem and COBALT acted as the legal advisors to Aquila Clean Energy. WIDEN provided legal counsel to Energy Gates.
“This acquisition further strengthens Energy Gates renewable projects’ development in the Baltics. The project is the third BESS asset in our portfolio and an important milestone reflecting our confidence in the Lithuanian market and our ability to develop, invest in, and realize value from high-quality storage assets that support grid flexibility, renewable integration, and long-term energy security.” Energy Gates CEO, Arminas Petraitis.
Aquila Clean Energy EMEA also commenced construction in November 2024 on a new 56 MW/112 MWh battery energy storage system in Wetzen, Lower Saxony, Germany. This project is part of the company’s larger portfolio of 14 battery storage projects in Germany, with a combined capacity of more than 900 MW.
According to Mercom’s 9M and Q3 2025 Funding and M&A Report for Energy Storage report, there were 45 energy storage project M&A transactions in the first nine months of 2025 compared to 22 transactions in the same period of 2024.
In January 2026, Swift Current Energy, a company that develops, commercializes, owns, and operates utility-scale solar, wind, and energy storage projects, announced the sale of the 150 MW/600 MWh Prospect Power battery storage project. The project is located in Rockingham County, Virginia, and was acquired by Elevate Renewables, a renewable energy development company.
