MEAG, asset manager of Munich Re, has announced its acquisition of a 100% stake in the Metelen battery park from SMA Altenso GmbH. The large-scale battery storage project, with a capacity of 92.5 MW and 231 MWh, will be located in North Rhine-Westphalia, Germany, and is scheduled to be operational in the latter half of 2025.

This acquisition marks MEAG’s first venture into the German battery energy storage system (BESS) market, which plays a critical role in stabilizing the power grid amid growing renewable energy use. The Metelen battery park will support this effort by balancing the fluctuating power generation from renewable sources like wind and solar.

SMA Altenso, a subsidiary of SMA Solar Technology AG known for expertise in battery storage and hybrid energy solutions, will continue to collaborate on the project as general contractor and operational service provider.

Fieldfisher’s Energy Team, led by Daniel Marhewka, provided MEAG with legal guidance for the transaction. Their advisory services included acquisition, construction, and operational management agreements, as well as a due diligence review of the battery park. The seller was advised by a GÖRG team headed by Jan Schellenberger, Michael Winkelhog, and Ruth Büchl-Winter.

This acquisition aligns with MEAG’s investment strategy to manage assets for institutional and private investors while supporting the energy transition in Europe.

Source: fieldfisher.com