VPI to invest in 500 MW battery storage projects across Germany
Energy company VPI plans to invest up to €450 million in battery storage projects in Germany, aiming to develop 500 MW of capacity over the next three to five years. This investment aligns with Germany’s goal of generating 80% of its electricity from renewables by 2030.
Battery storage is essential to balance the electricity grid as renewables, which accounted for 40% of Germany’s power generation in 2023, continue to grow. VPI plans to build ten storage projects, primarily in the wind-rich northeast. The first project, a joint venture with Quantitas Energy, will include several 60 MW facilities.