Lion Storage’s Mufasa accelerates the Dutch energy storage market

Dutch energy storage developer Lion Storage, part of Return, will develop one of the largest battery energy storage systems (BESS) in Europe with a storage capacity of 1,400MWh and a power capacity of 350MW. Project Mufasa has successfully reached financial close and is set to become operational in the first half of 2027.

The battery project is being built in Vlissingen in the North Sea Port, a key hub for renewable energy in the Netherlands. Here the battery can be connected to a high voltage substation. This initiative is a big step forward in supporting the Netherlands’ transition to renewable power.

Mufasa’s batteries from Tesla will be able to charge and discharge 1,400 MWh at 350 MW power capacity, several times per day; this equals to power usage of over 200,000 households. As the largest BESS in the Netherlands and one of the largest energy storage projects in Europe, it sets a new standard for balancing and securing power grids. Eneco will be operating Mufasa on a day-to day basis. The Dutch energy company will use the battery to manage differences in supply and demand on the energy markets to support the supply of sustainable electricity.

The project is being backed by Macquarie Capital as lead equity investor alongside TINC and existing Return investors as well as six banks, all of which bring extensive experience financing energy transition projects.

Pioneering financing and market leadership
Mufasa is the largest utility-scale battery storage project in the Netherlands to be fully funded through 100% non-recourse project financing of over EUR 350 million. The closing of Project Mufasa clearly articulates that both project finance banks and global infrastructure investors are fully supportive of battery storage as part of our future energy infrastructure. All parties came together to support the Netherlands’ transition to renewable energy, while helping to reduce congestion and stabilize the power grid.