A major milestone has been reached for Europe’s energy transition. CORSICA SOLE, together with its partners Evecon and Mirova, has successfully secured financing for the first-ever bank-financed energy storage project in Estonia and across the Baltic States.

As market advisor, Clean Horizon played a central role in making this achievement possible by providing price forecasting, economic modelling, and market expertise to support project development and financing.

The developer, CORSICA SOLE – a leading independent solar power producer and a European pioneer in energy storage – raised €85.6 million for the Hertz 1 and Hertz 2 projects through the joint venture Baltic Storage Platform (BSP). Financing was arranged by the European Bank for Reconstruction and Development (EBRD), the Nordic Investment Bank, and Edmond de Rothschild Asset Management, with support from the EU’s InvestEU programme.

Once operational, the Hertz 1 and Hertz 2 sites near Tallinn will form one of continental Europe’s largest battery storage complexes (200 MW / 400 MWh), significantly strengthening grid stability and supporting the reduction of fossil fuel use in the region.

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This landmark project sets a new benchmark for the Baltic energy market and reinforces the momentum of Europe’s transition toward a more flexible, secure, and decarbonised power system.

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