Financing layer for energy storage

Energy storage earns from volatility.Capital markets can’t own it yet.

Megawatt moves electricity price exposure from trading house balance sheets to capital markets as an onchain royalty on energy storage revenue.

How it works

We finance revenue secured by grid connection.

1 · Volume

The owner guarantees the battery delivers a set number of MWh every year and stands behind it.

2 · Price

The market sets what each MWh earns. Nobody controls it, so nobody has to.

3 · The split

A fixed share of the resulting revenue, for a set term, is the instrument investors hold. The owner keeps the rest.

Markets

The spread has stepped up and it is holding.

Driven by weather and grids, not by cycles of capital. Two-hour spreads (TB2) across 40 European day-ahead markets monthly since September 2023, straight from our Megadata platform. Brighter months are when the grid paid most to move energy in time; hover a market for its trend and Megadata’s twelve-month projection.

Hover a cell for the month, or a market name for its three-year trend and projection

Last two years · full history on desktop

0250+ €/MWhMonthly average TB2 spread, day-ahead
Source: Megadata, Megawatt's spread-monitoring platformSolid line: monthly average TB2, day-ahead · shaded: Megadata projection, ±1σ · grey line: 2023-24 average · projections are statistical, not advice

Moving energy in time is one kind of flexibility. Balancing services (aFRR and mFRR), bought directly by grid operators, are the larger share of storage revenue in many markets.

$200M of grid storage ready to be built.

11projects in the pipeline
857 MWhof storage capacity
5countries
Drag to rotate
    • DomneștiRomania99 MW / 204 MWh
    • TârgovișteRomania7.5 MW / 30 MWh
    • ChitilaRomania24.5 MW / 98.4 MWh
    • SarinasufRomania49 MW / 205.7 MWh
    • BalosaniRomania48 MW / 96 MWh
  • AvezzanoItaly40 MW / 160 MWh
  • Gorna OryahovitsaBulgaria20 MW / 40 MWh
  • Małkinia GórnaPoland7 MW / 14 MWh
    • Bitterfeld-WolfenGermany2 MW / 4 MWh
    • CottbusGermany1.5 MW / 2.9 MWh
    • SchwedtGermany1 MW / 2 MWh
  • Slovenia I · operatingSlovenia3.2 MW / 6.4 MWh
  • Slovenia II · operatingSlovenia0.35 MW / 0.55 MWh

Two Slovenian facilities are owned by founders and are listed here for representative purposes only.

Why now

The next onchain asset is different from the last three.

Each wave brought a real-world cash flow onchain. The first three were loans, so investors were owed a fixed amount. Here, capital holds a share of what the grid pays energy storage every day and that amount moves with the market.

2020–22

Private credit

Lending to businesses.

2023–24

Tokenised treasuries

Lending to governments.

2024–25

Compute

Lending against GPUs.

Next

Energy backed revenue

A share of what the grid pays for a service it buys every day.

Team

Our founders build, own and run energy storage plants.

80+ MWof energy storage built by our founders for clients
10+ MWof solar built by our founders for others
2energy storage plants our founders own and operate
ParosmontIn-house · Electrical infrastructure
SungrowInverters & storage
HuaweiInverters & storage
FoxESSStorage systems
Capalo AIOptimisation & trading
ENTSO-EMarket data
Grigorescu PartnersLegal counsel

Talk to us

OwnersFinance your next project
CapitalComing soonRead how it works
Battery storage at dusk
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