Squire Patton Boggs has played a pivotal role in facilitating a significant cross-border financing arrangement for Ånge Storage Solution AB and its parent company, Delta Ange Holding s.r.o. This financing, provided by PPF banka a.s., is instrumental in the construction and operation of a 70-MW/160-MWh battery energy storage system (BESS) in Sweden. The BESS project, strategically located in the Ånge municipality within Vasternorrland County, is poised to become one of the largest energy storage sites in Scandinavia. This ambitious venture will significantly contribute to grid stability and flexibility for Swedish grid operators, addressing the critical need to balance renewable energy sources.
The project is a collaborative effort between Delta Capacity, a developer of utility-scale BESS, and WOOD & Company, a renowned European investment bank and asset manager. It is an integral part of WOOD & Company's Renewables Subfund. The legal expertise behind this transaction was provided by a dedicated team led by Corporate Partner Radek Janecek in Prague. The team also included Of Counsel Marek Hrubes and Associate Aneta Vesela, who collectively brought their legal acumen to this complex and impactful project.
Radek Janecek expressed his satisfaction with the project's progress, stating, 'We are delighted to support our client in this crucial financing, which will enable them to deliver one of the largest energy storage capacities in the region. Battery storage is an indispensable component for balancing renewable energy and ensuring grid stability.' This project exemplifies Squire Patton Boggs' commitment to facilitating sustainable energy solutions and enhancing grid infrastructure.
