French energy storage provider NW has secured EUR 430 million in non-recourse financing from Santander CIB and Dutch Rabobank to accelerate its growth. The funds will help NW meet its goal of deploying over 2 GWh of battery storage capacity across France and Finland by the end of 2025.
With more than 600 MW of installed battery capacity and over 130 electric vehicle charging stations, NW will allocate the fresh capital to expand its JBox lithium-ion energy storage facilities in these markets.
“Today, NW is entering a new phase of growth, demonstrating the solidity of its business model,” said Jean-Christophe Kerdelhue, Founder and CEO of NW. “The projects financed will strengthen our position as the French leader in electricity storage and position us as a key player in the Finnish market.”
This financing follows NW's EUR 300 million equity raise in 2022 and builds on its recent partnership with Nidec Corp to deploy 2.5 GWh of energy storage capacity in France by 2028.
