The facility is the second project in Estonia from Baltic Storage Platform, a joint venture between Evecon, French energy producer Corsica Sole and international investment fund Mirova. Hertz 1 was opened in Kiisa in February.

Located in Aruküla near Tallinn, Hertz 2 is a replica of Hertz 1. The facility is based on a containerised solution, with 2,328 battery modules housed in 54 containers.

The combined capacity of the two battery parks reaches 200 megawatts, with a total storage capacity of 400 megawatt-hours.

"Together, Hertz 1 and Hertz 2 represent the largest private-sector investment in Estonia's energy sector, amounting to €170 million. It was a bold decision we made with our French partners at the end of 2023: the investment decision went entirely against market sentiment and was made without a single subsidy," said Evecon CEO Karl-Joonatan Kvell.

"With Hertz 2 now operational, the battery storage complex is fully up and running and will help the Baltic electricity system maintain grid frequency and reduce price spikes," he added.

Construction of Hertz 1 and Hertz 2 was financed with an €85.6 million loan provided by the European Bank for Reconstruction and Development (EBRD), the Nordic Investment Bank (NIB) and Edmond de Rothschild Asset Management.

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