CASE CASSIOPEA acted as exclusive financial adviser to the shareholders of GESI on the sale of a 51% stake to Allianz Global Investors

Green Energy Storage Initiative (GESI) was founded in 2023 and is a German developer, constructor and operator of high-performance, digitalised utility-scale battery energy storage systems, providing flexibility within the energy system.

GESI is currently developing three large-scale battery storage projects across Bavaria and Lower Saxony, with an aggregate grid connection capacity of approximately 2.6 GW. The projects rank among the largest battery storage developments in Germany and are located at strategically critical nodes of the transmission network. They benefit from the continued use of existing grid infrastructure, including former decommissioned power plant sites. Commissioning is targeted by 2029, with further growth supported by an attractive pipeline of additional battery storage developments.

Allianz Global Investors (AllianzGI) is a leading global active asset manager with more than EUR 591 billion in assets under management and a strong track record in private markets and infrastructure investments. Acting on behalf of Allianz insurance companies, AllianzGI invests across a broad range of asset classes with a focus on generating long-term, sustainable value. Within private markets, AllianzGI focuses on infrastructure investments supporting the energy transition.

The market for battery energy storage systems is characterised by strong and rapidly growing demand, driven by the increasing need for flexibility within the energy system and the ongoing expansion of renewable energy generation. In this context, large-scale battery storage is a cornerstone of the energy transition, contributing to grid stability and resilience, alleviating grid congestion and enabling the efficient integration of renewable energy into the power system. With its large-scale development portfolio and strategically located projects, GESI is well positioned to support these dynamics and play a key role in the transformation of the German energy system.

Walter Raizner, CEO of GESI, comments: “For a successful and affordable energy transition, Germany urgently needs additional storage capacity. With Allianz as an experienced and renowned partner, we are ideally positioned to make a significant contribution to the transformation of the German energy system – in the interests of climate protection and an independent, sustainable energy supply.”

Ludovic Subran, Chief Investment Officer of Allianz Group, adds: “Modern storage solutions are a key component of an efficient and stable energy infrastructure. Demand for battery storage is therefore high and growing rapidly. This investment in GESI is already our second direct equity investment in battery storage in Germany, alongside the partnership with TotalEnergies announced at the beginning of March. We are delighted to partner with the experienced management team and shareholders of GESI to further drive the development of large-scale battery storage in Germany.”

CASE CASSIOPEA acted as exclusive M&A adviser to the shareholders of GESI, underscoring its strong expertise in the energy infrastructure sector, particularly in the battery energy storage (BESS) space, and its track record in advising on complex transactions in the context of the energy transition.