S4 Energy, a Dutch-based grid-scale energy storage developer, has acquired LC Energy Grid Service (LCEGS), a high-voltage battery storage platform and subsidiary of LC Energy. S4 Energy is majority-owned by Castleton Commodities International (CCI).
With this acquisition, S4 Energy will be able to continue developing its existing portfolio of projects, which includes four 10 MW medium-voltage, 4-hour duration systems in the Netherlands, all of which are scheduled to become operational in 2025.
The company announced plans to advance its 7.5 GW project pipeline, which includes a fully permitted 2 GWh energy storage facility in Groningen.
In addition to this acquisition, S4 Energy recently acquired 6 GW of energy storage projects in the Netherlands from LC Energy.
“This investment marks a transformative step for our platform, S4 Energy, and brings us closer to establishing a fully integrated, pan-European battery energy storage system platform. This transaction underscores our commitment to that vision and highlights energy storage’s crucial role in facilitating decarbonization,” said Mohit Singh, principal in CCI’s European Principal Investments team.
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, in 9M 2024, 18 Energy Storage M&A transactions were announced in 9M 2024, up from 11 M&A transactions in 9M 2023.
In August, AGL Energy, an integrated energy company, entered into a binding agreement to fully acquire Firm Power and Terrain Solar for a total consideration of approximately $250 million. Firm Power is a developer specializing in Battery Energy Storage Systems, with 21 projects currently in development, while Terrain Solar is a solar project developer with six projects in development.