Enlight acquires majority stake in Jupiter Project to strengthen European energy storage

Enlight Renewable Energy has agreed to take a majority stake in Project Jupiter, a large-scale solar and energy storage development in Germany’s Brandenburg region, in a move that significantly strengthens its European presence. The investment reflects Enlight’s strategy to expand in utility-scale storage and solar generation while partnering with Prime Capital AG to accelerate energy transition infrastructure across Europe.

Enlight acquires Project Jupiter: key terms of the investment

Under the agreement, Enlight is expected to acquire between 51 % and 60 % of Project Jupiter’s shares, with Prime Capital’s Prime Green Energy Infrastructure Fund II retaining the remainder. The project combines both solar and battery storage capacity, planning for up to 150 MWp of solar generation and 2,000 MWh of storage, with a secured grid connection of up to 500 MW. These specifications position the project to provide both clean energy generation and critical grid balancing services.

The investment builds on the ongoing relationship between Enlight and Prime Capital, previously demonstrated through the 372 MW Björnberget wind farm in Sweden. As part of the partnership expansion, Enlight committed €50 million to the Prime Green Energy Infrastructure Fund II and gained co-investment rights in additional renewable projects across Western and Northern Europe, strengthening its strategic foothold on the continent.

Project Jupiter is targeted to reach a “Ready to Build” status by the end of 2026, with a total investment of roughly €470–500 million. Early projections suggest annual revenues between €85 million and €90 million in the first five years, and an EBITDA of €70–80 million, indicating strong commercial viability for the co-located solar and storage assets.

Strategic implications for European energy

Project Jupiter aligns with a broader European trend of pairing large-scale solar with battery systems to deliver electricity when generation exceeds demand and stabilize the grid during peak periods. This combination addresses key challenges as intermittent renewable sources expand across Europe, making energy storage increasingly critical.

For Enlight, the investment deepens its focus on energy storage in Europe, with Germany offering a supportive policy environment, extensive grid modernization programs, and high demand for dispatchable renewable energy. The deal complements Enlight’s diversified portfolio of solar, wind, and storage assets while enhancing its ability to participate in emerging utility-scale energy markets.

Energy storage, particularly when co-located with generation, has become a strategic priority for investors and developers in Europe. Projects like Jupiter provide flexible, dispatchable power, help integrate higher shares of renewables, and support grid reliability, all of which are key to meeting Europe’s decarbonization targets.

Enlight’s majority investment in Project Jupiter marks a significant expansion of its European energy storage operations. By combining 150 MWp of solar generation with 2,000 MWh of storage, the company positions itself at the forefront of integrated renewable infrastructure. The partnership with Prime Capital and the planned 2026 build-ready milestone underscore both the strategic and commercial importance of the project as Europe continues its transition to cleaner, more flexible energy systems.