Amsterdam—Global law firm Dentons has advised a consortium of six banks - ABN AMRO, Rabobank, ING Bank, Triodos Bank, Santander CIB, and ASR - on the €350 million loan to Lion Storage for the project financing of Project Mufasa. With 350MW capacity Mufasa is the largest battery energy storage system (BESS) in the Netherlands by far, and one of the largest in Europe.

As of 2027, the Vlissingen-based battery project will be able to charge and discharge 1,400 MWh at 350 MW storage capacity, several times per day: sufficient to power well over 200,000 households. Its grid connection in Borssele will repurpose the site of a former coal-fired power plant, representing a major step forward in strengthening Europe’s energy infrastructure and accelerating the energy transition.

"Project Mufasa is a game-changer for battery storage in the Netherlands. As the first of its kind to secure full project financing, it proves that energy storage is not just viable - it’s investable," says Arno Hendriks, co-founder of Lion Storage.

Amsterdam-based Banking and Finance partner Marcel Janssen and Counsel Gerard Koster led the legal team advising the banking consortium. The team included junior associates Iris van Noort and Frits Miedema (Banking and Finance), partner Jan Jakob Peelen and senior associate Sanne Jeurissen (Energy), counsel Başak Küçük, associate Mees Olthof and junior associate Sybren van der Velden (Construction and Projects), and notaries Ines van Dijk and Bas Legger, as well as partner Matthew Sapte and associate Andrew Gallagher in London (Debt Capital Markets, Structured Finance and Derivatives).

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