TINC invests in 2 battery energy storage systems developed by BSTOR, and strengthens its role in the Belgian energy transition

Antwerp, 22 July 2026, 7:00 CET

TINC, the infrastructure investor listed on Euronext Brussels, invests € 11 million in two large-scale battery energy storage systems in Belgium, developed by BSTOR. The investment is made together with Infravest, the strategic infrastructure joint venture of Gimv, WorxInvest and Belfius. The total investment amounts to € 22 million, with each partner contributing € 11 million. This transaction is another step for TINC in its strategy to invest in infrastructure that is essential for a reliable and future-proof power grid.

“This investment further strengthens the position of TINC in battery storage, a key technology for a reliable and flexible energy system. By now, TINC has committed approximately € 100 million to five battery storage projects in Belgium and the Netherlands, representing a combined capacity of 800 MW and 3,067 MWh. We are pleased to partner with an experienced developer such as BSTOR.” – Manu Vandenbulcke, CEO TINC

“BSTOR is pleased to welcome TINC and Infravest as partners in these two battery storage projects. Their investment underlines the strategic role of large-scale battery storage in supporting grid flexibility and security of supply. This partnership brings together complementary expertise and long-term capital to support the continued deployment of energy storage infrastructure in Belgium.” – Cédric Legros, Co-Founder & Managing Director BSTOR

150 MW of additional storage capacity to support energy security

The investment includes two battery energy storage systems with a combined capacity of 150 MW (410 MWh). These systems provide flexibility services to the power grid, supporting system stability and enabling further integration of renewable energy.

The first project, DSTOR (50 MW / 140 MWh), is located in La Louvière and is operational since March 2026. The project was developed in partnership by BSTOR with Duferco Wallonie, which is active in brownfield redevelopment, logistics services and energy investments.

The second project, Estor-Lux II (100 MW / 270 MWh), is located in Aubange, soon to be energized and expected to be fully operational in October 2026. The project is developed in partnership by BSTOR with SOPAER and SOCOFE, two Walloon investment companies focusing, among others, on renewable energy and environmental-friendly transition projects.

Partnership with experienced developer BSTOR

Both projects were developed by BSTOR, an experienced developer and operator of battery energy storage systems. BSTOR is a frontrunner in the Belgian battery storage market, and significantly contributed to the emergence of large-scale storage as strategic and reliable grid and market supporting infrastructure in Belgium. BSTOR has already brought three projects to financial close, representing 160 MW / 430 MWh of installed storage capacity and a total investment of approximately €200 million.

By delivering “Batteries as a service” to market parties and end-consumers, BSTOR aims to make the transition to carbon neutrality technically feasible, affordable & viable, by providing the grid with systemic flexibility. The company is a joint initiative of Greenstor (CFE and Ackermans & Van Haaren), Wallonie Entreprendre and BEWATT (Bruno Vanderschueren).

€ 11 million investment for TINC, funded under its revolving credit facility

For TINC, the investment amounts to € 11 million and is funded under its available € 300 million revolving credit facility. The investment consists of a combination of an indirect equity participation and a subordinated loan facility.

The investment is made together with Infravest, the strategic infrastructure joint venture of Gimv, WorxInvest and Belfius, which also invests € 11 million.

With this new investment TINC has by now committed € 100 million to battery storage

This third investment in large-scale battery storage in Belgium and the Netherlands underscores the ambition of TINC to develop its position in this fast-growing sector.

In 2025, TINC invested € 61 million in Project Mufasa, one of the largest battery storage projects in the European Union (NL). This was followed in March 2026 by an investment of € 23 million in Storm BESS (B).

In combination with this new investment, the total commitment by TINC to battery storage grows to approximately € 100 million, focusing on infrastructure that is essential for a reliable and future proof power grid.

About TINC

TINC is a listed investment company that seeks to create sustainable value by investing in the infrastructure for the world of tomorrow. TINC participates in companies that are active in the realization and operation of infrastructure and holds a diversified portfolio of participations in focus areas such as public infrastructure, energy infrastructure, digital infrastructure and social infrastructure in Belgium, France, Ireland and the Netherlands.

For more information, please visit www.tincinvest.com.

Contact

Manu Vandenbulcke, CEO TINC
T +32 3 290 21 73 - manu.vandenbulcke@tincinvest.com

Filip Audenaert, CFO TINC
T +32 3 290 21 73 - filip.audenaert@tincinvest.com

About BSTOR

BSTOR SA/NV is a vehicle for the development, financing and operation of battery energy storage parks owned by GreenStor (Ackermans & van Haaren and CFE), Wallonie Entreprendre, and BEWATT (Bruno Vanderschueren). BSTOR brought 3 projects to financial close for a capacity of 160MW/430MWh and a total investment of 200MEUR (with fully non-recourse loan of ~125 MEUR sourced, while the revenue structure is fully merchant exposed).

BSTOR aims to develop ~1,5 GW of battery energy storage projects over the next 5 years.

Contact

Cédric Legros, Co-Founder & Managing Director BSTOR
T +32 496 94 97 75 - cedric.legros@bstor.be