From: Mercom India
Eku Energy, a company that develops, builds, and manages energy storage assets, has entered the German market with its first project, the 400 MW/1,600 MWh Dion battery energy storage project in the municipality of Lamspringe, Lower Saxony.
According to the company, the project is in an advanced stage of development and has signed a development services agreement with German project developer NION, which developed this project.
Under the agreement, NION will continue developing the project until it reaches the ready-to-build stage, while Eku Energy will lead the project’s development, design, and technology.
The project is expected to be commissioned by the end of 2029.
Eku Energy will also work with Fluence, its lithium-iron-phosphate battery technology supply partner, during the project’s development.
Erin Lee, Chief Financial Officer of Eku Energy, said, “Eku Energy’s core strength lies in combining technological expertise with deep commercialization experience. In our multi-use projects, we combine long-term offtake agreements with our battery assets’ participation in power exchange markets. This expertise in contracts and storage technology delivers greater revenue resilience and visibility for our projects.”
Eku Energy is jointly owned by the British Columbia Investment Management Corporation and a fund managed by Macquarie Asset Management, which manages A$722 billion (~$498 billion) in assets under management.
The company said it has more than 25 GWh of battery energy storage projects under delivery across Australia, Japan, New Zealand, the United Kingdom, and Italy.
In May 2026, GridStor, a developer and operator of utility-scale battery energy storage projects, acquired the 199 MW/796 MWh Birdseye battery storage project in Adams County, Colorado, from Accelergen.
A total of 7.2 GW of energy storage projects were acquired in Q1 2026, a 227% increase compared to the 2.2 GW in Q1 2025, according to Mercom’s recently released Q1 2026 Energy Storage Funding and M&A report. A growing share of acquisitions included standalone battery storage and hybrid solar-plus-storage projects.
