India, Sept. 22 -- Terra One, one of Europe's leading developers of large-scale battery storage systems, has secured a €150 million mezzanine financing from Aviva Investors.

The funds, combined with equity and project financing, will enable Terra One to invest a total of up to €750 million in new storage facilities. This will enable the company to build a total capacity of approximately 3 GWh. This is enough to supply the electricity needs of approximately 20% of all German households* for one hour.

"This financing is a milestone for Terra One and for the energy transition in Europe," says Tony Schumacher, Founder and MD of Terra One.

"With Aviva Investors on our side, we can massively accelerate the expansion of large-scal...