Hogan Lovells advises Banco Santander on financing of Obton’s first high-voltage battery energy storage system in Germany

Press releases | 22 April 2025

Led by partner Dr Carla Luh, global law firm Hogan Lovells has advised Banco Santander on a long term senior debt financing for Danish renewable energy investment company Obton and its first standalone high-voltage battery energy storage system in Germany, located in Lower Saxony.

The project, which features a total power of 137.5 MW and a storage capacity of 284 MWh, was financed with a combination of senior and junior debt.

Battery energy storage systems (BESS) are used to store energy (often from a renewable source) for later use during critical periods. These systems offer the benefits of cost savings, clean energy and reduced downtime.

Carla Luh, Head of the German Finance Practice, commented: “This project is one of the biggest recent German BESS financings and represents a significant step in advancing Germany's renewable energy infrastructure. We are pleased to contribute as well as to enlarge our track record with another milestone of financing large-scale energy transition projects.”

The Hogan Lovells team leveraged its extensive experience in energy transition financings to develop a customised approach that met the strategic objectives of both the lenders and Obton.

Hogan Lovells team

Finance – Dr Carla Luh (Partner), Tobias Ulbrich, Dr Marzieh Rad (Lead Associates), Dr Alexander Wandt (Counsel), Julian Schulz (Associate), Oliver Hamilton (Senior Associate);

Due Diligence – Kristina Laewen (Senior Associate), Pia Heckenberger, Alan James-Schulz, Terfé Gerotto (all Associates).