Anchor Energy Partners Aims to Raise €75M for European Battery Fund

• Anchor Energy Partners aims to raise €75 million for its first fund, which will buy and operate battery storage assets across Europe.
• An initial close was backed by founding investor 2degrees; Anchor did not disclose the amount committed.
• Fund documents show a 13-year holding period, with investments expected to be sold around the end of 2039.

Anchor Energy Partners aims to raise €75 million ($84 million) for its first fund, Anchor Fund I, which will buy and operate battery storage across Europe, the Copenhagen firm said on Nov. 9.

The fund has held an initial close backed by 2degrees, a private investment company that is Anchor's founding investor and co-owner. Anchor did not disclose how much was committed. The fund will acquire ready-to-build projects and run them with data-driven asset management, the firm said in a statement.

The vehicle is a Danish limited partnership, and its manager is registered with the Danish Financial Supervisory Authority. Its key information document, dated Oct. 8, rates the product 6 on a 7-point risk scale. Returns in that document are scenarios based on similar investments, and no minimum return is guaranteed.

The fund in numbers

• €75 million target size, with no amount disclosed for the initial close.
• 13 years is the recommended holding period, with investments expected to be sold around the end of 2039 and two optional one-year extensions.
• 15.1% IRR in the document's moderate scenario, against -7.2% under stress and 21.7% in the favorable case.
• 2% annual management fee during the investment period and 1.5% afterward, plus carried interest.
• 36 GWh of batteries were installed in Europe in 2025, up 48% year on year, according to SolarPower Europe.
• About 670 MWh is what €75 million buys with no debt at Ember's estimate of $125/kWh (list.solar calculation).

Anchor puts Europe's installed battery storage at under 80 GWh, against around 1,200 GWh needed by 2050. SolarPower Europe's count is higher: more than 100 GWh in operation after 2025's additions, in a region that includes the EU-27, the U.K., Switzerland, Ukraine and Turkey.

Anchor grew out of Icecreek Energy, the battery platform CEO Fabian Siegel founded in 2024. The release says the team already operates more than 120 MWh. Anchor's website is more specific, listing 35 MWh operational in Germany and 95 MWh under construction in Finland. A fund run by EB-SIM bought 80% of the Finnish project, its legal adviser GÖRG said in July.

"The bottleneck now is flexibility, and many good mid-market projects are stuck because few investors are set up with appropriate capital and expertise to underwrite them," Siegel said in the statement.

Anchor gave no date for a final close and named no assets for the fund.