Nuvve announces new 40MW Austrian BESS project

US-based Nuvve Holding Corp. has announced the addition of a 40MW / 80MWh BESS project in Austria to the joint European energy platform it is building with OMNIA Group Holdings, a Switzerland-headquartered energy infrastructure development company.  

The project — developed through the Austrian SPV Energiepark Graphit GmbH — is the latest asset activated under the strategic cooperation agreement between Nuvve and OMNIA announced earlier this month, and extends the commercial arrangement already in place for the companies’ Swedish BESS project, according to a media release.

Under the terms of the cooperation agreement, Nuvve will provide project development consulting services and will serve as the grid aggregation operator, earning a 9% aggregation fee on all revenues generated by the Austrian project. Nuvve also holds a right of first refusal (ROFR) to acquire the completed asset at a valuation that is being independently assessed, providing optionality to own the project outright.

The Energiepark Graphit project is a fully contracted, development-stage LFP BESS co-located at an established industrial site in Bad Goisern am Hallstättersee, Upper Austria, the media release said.

“When you stack this alongside our Swedish project and our first contracted deployment in Denmark, you can see a European revenue platform taking shape that is multiple times the size of Nuvve’s entire current revenue base — built with an extremely fast path to market,” said Gregory Poilasne, Co-Founder & Chief Executive Officer, Nuvve Holding Corp.

“The cooperation framework that we established with Nuvve was designed to convert pipeline into recurring economics at an accelerated speed,” said Daniel Hansen, Chief Executive Officer, OMNIA Group Holdings. “Energiepark Graphit is the second asset we have activated under that framework in a matter of weeks, and it will not be the last. This is a partnership built on aligned incentives and tangible delivery, not just intentions.”