PARIS — February 10, 2026
Executive Summary
Eclipse and BNP Paribas have announced the signing of a strategic partnership agreement designed to accelerate the deployment and financing of Battery Energy Storage Systems (BESS) across Europe. The agreement includes a strategic equity investment in Eclipse by BNP Paribas and establishes a joint framework to provide financing, hedging, and long-term offtake solutions for industrial-scale battery storage assets. Eclipse currently maintains a development pipeline of 16 projects across France and Belgium totaling 850 MW of capacity. Through this partnership, the two organizations intend to combine Eclipse’s battery optimization and development capabilities with BNP Paribas’ structuring expertise and credit strength to support asset financing, merchant risk management, and energy resilience initiatives across European power markets.
Announcement Overview
Eclipse, a battery storage development and energy trading company, and BNP Paribas have formalized a strategic partnership agreement focused on scaling battery energy storage infrastructure in Europe. As part of the agreement, BNP Paribas has made a strategic equity investment in Eclipse, reinforcing long-term alignment between the two entities.
According to the companies, the collaboration is structured to address both operational optimization and financial structuring of Battery Energy Storage Systems. Eclipse contributes proprietary trading and optimization technology through its Flowstream platform, which connects directly to European power exchanges to enable real-time asset optimization and revenue stacking strategies. BNP Paribas contributes financing solutions, hedging instruments, and long-term offtake structures supported by its experience in European physical and financial power markets.
The agreement is positioned as a coordinated approach to financing, deploying, and optimizing battery storage infrastructure amid rising electricity demand and accelerating renewable integration across Europe.
Key Announcement Details
- Announcement classification: Strategic partnership agreement
- Announcement sub-classification: Infrastructure financing and equity investment collaboration
- Equity component: Strategic equity investment in Eclipse by BNP Paribas
- Investment direction: Minority strategic stake (equity participation disclosed; percentage not publicly specified)
- Primary objective: Accelerate deployment of Battery Energy Storage Systems (BESS) across Europe
- Strategic purpose: Strengthen European energy resilience and infrastructure stability
- Signing date: February 10, 2026
- Announcement timestamp: February 10, 2026 at 6:05 PM Eastern Standard Time
- Parties to agreement: Eclipse and BNP Paribas
- Industry sector: Energy infrastructure and battery energy storage
- Asset class focus: Industrial-scale Battery Energy Storage Systems
- Geographic focus of partnership: Europe
- Active development countries: France and Belgium
- Eclipse project pipeline: 16 battery storage projects
- Total development capacity: 850 megawatts (MW)
- Asset ownership model: Development, ownership, and operation of BESS assets
- Optimization technology: Flowstream proprietary algorithmic trading software
- Optimization capability: Real-time battery optimization
- Market connectivity: Direct connection to European power exchanges
- Revenue model capability: Revenue stacking across multiple power market segments
- Trading functionality: Continuous algorithmic trading
- Third-party services: Optimization contracts for external BESS asset owners
- Financial component: Tailored project financing solutions for BESS projects
- Risk mitigation tools: Hedging instruments to manage merchant exposure
- Cost of capital objective: Reduction of asset-level cost of capital
- Offtake strategy: Joint long-term offtake solutions
- Credit support: BNP Paribas credit strength and structuring capacity
- Banking expertise cited: Over 20 years of electricity trading in European physical and financial power markets
- Counterparty target clients: Utilities, independent power producers (IPPs), corporates
- Structural integration: Combined development, optimization, financing, and hedging framework
- Strategic theme: Energy transition acceleration
- Broader objective: Enhance European energy security and market stability
Strategic Context
According to the companies, electricity demand in Europe continues to rise due to electrification of transport, buildings, and industrial processes, alongside population growth. Renewable generation is expected to account for nearly all incremental demand growth in coming decades, requiring enhanced system flexibility and storage capacity to maintain grid stability.
Battery Energy Storage Systems are increasingly viewed as critical infrastructure for balancing intermittent renewable generation, supporting grid services, and enabling revenue stacking across wholesale, ancillary, and capacity markets. The companies stated that scaling BESS deployment requires integrated approaches combining asset development, trading optimization, and structured financing.
BNP Paribas has been active in European electricity trading for more than two decades and maintains experience across both physical and financial power markets. The partnership leverages this experience to structure long-term financing and risk mitigation solutions tailored to battery assets operating in merchant market environments.
Eclipse operates as an integrated BESS developer, owner, and operator while also serving as an Independent Flexibility Provider. Its business model integrates development and trading optimization, enabling coordination between asset design and market execution.
The companies indicated that the partnership aims to strengthen Europe’s energy resilience by accelerating storage deployment while supporting financing frameworks that reduce asset-level cost of capital and manage merchant exposure.
Technology and Operational Model
Eclipse’s proprietary Flowstream platform forms a core component of the partnership framework. Flowstream is directly connected to European power exchanges and enables continuous trading and real-time optimization of battery storage assets.
According to the company, the software supports revenue stacking across multiple value streams while preserving battery performance. This includes optimization across day-ahead, intraday, and ancillary markets depending on regional structures.
As an integrated BESS operator, Eclipse develops, owns, and operates grid-scale storage assets while also managing third-party assets through optimization contracts. This dual approach allows Eclipse to apply trading insights directly to development decisions.
The 850 MW pipeline across France and Belgium reflects Eclipse’s current near- and mid-term deployment capacity. These projects represent industrial-scale installations intended to support grid stability and renewable integration in European markets.
Financing and Risk Management Framework
Under the partnership, BNP Paribas will provide asset owners with tailored financing solutions for Battery Energy Storage projects. These may include structured project finance arrangements aligned with asset revenue profiles and long-term offtake strategies.
The agreement also encompasses hedging instruments designed to manage merchant risk, which remains a central consideration in battery storage economics. Merchant exposure arises when assets derive revenue directly from market price volatility rather than fixed long-term contracts.
Through its credit strength and structuring expertise, BNP Paribas will support long-term offtake solutions designed to provide revenue visibility while maintaining operational flexibility. The companies stated that combining trading optimization with structured finance enables improved asset bankability and scalable deployment.
Leadership Statements
“Eclipse has developed unmatched expertise across the Battery Energy Storage System value chain, combining project development with grid-scale optimization capabilities. This dual business model gives us a unique understanding of market dynamics. The partnership with BNP Paribas will enable us to deliver long-term revenue solutions to our clients, and robust asset financing to support the growth of battery storage across Europe.” said Augustin Derville, Co-founder & CEO, Eclipse.
“This innovative partnership between BNP Paribas and Eclipse reflects our shared commitment to building a more resilient energy infrastructure for Europe,” commented Olivier Osty, Deputy COO, BNP Paribas Group and CEO, BNP Paribas CIB. “By combining Eclipse’s expertise in industrial-scale battery storage with BNP Paribas’ financial and structuring capabilities, we are developing solutions that enhance market flexibility, efficiency, and sustainability, helping utilities, IPPs, and corporates navigate the transition while contributing to the EU’s broader objectives of energy resilience and strategic autonomy.”
European Market Environment
European power markets are undergoing structural transformation driven by decarbonization targets, electrification policies, and energy security considerations. Renewable generation capacity continues to expand, particularly wind and solar assets across Western Europe.
Battery storage systems provide flexibility by storing excess generation and dispatching electricity during peak demand or grid imbalance periods. This functionality supports frequency regulation, congestion management, and system stability.
According to the companies, market frameworks increasingly support long-duration and grid-scale battery deployment. However, scaling remains dependent on capital availability, merchant risk mitigation, and advanced trading capabilities.
The partnership is structured to align financing with optimization strategies, reducing revenue volatility exposure while enabling assets to participate in multiple market segments.
About Eclipse
Eclipse is a European infrastructure technology company specializing in the development, ownership, operation, and optimization of industrial-scale Battery Energy Storage Systems. The company operates as an integrated BESS platform combining asset development with proprietary algorithmic trading and market optimization capabilities.
Eclipse develops grid-scale battery storage assets designed to participate across European power markets. Its current development pipeline includes 16 projects located in France and Belgium, representing a combined installed capacity target of approximately 850 megawatts. These projects are structured to support wholesale energy trading, ancillary services, and flexibility markets.
The company’s proprietary optimization platform, Flowstream, connects directly to European power exchanges and executes continuous algorithmic trading strategies in real time. The platform enables revenue stacking across multiple market segments while managing dispatch strategy to preserve battery health and lifecycle performance. Flowstream is deployed across both Eclipse-owned assets and third-party systems under optimization management contracts.
In addition to operating as a developer and owner of BESS infrastructure, Eclipse functions as an Independent Flexibility Provider, managing grid-scale battery assets and entering into optimization agreements with external asset owners. Through this integrated model, Eclipse combines physical asset control with financial and algorithmic market participation, positioning the company across both infrastructure and trading layers of the European energy market.
Eclipse’s operational footprint is concentrated in Western Europe, with active development in France and Belgium and direct market integration with European power exchanges. The company’s strategy is aligned with increasing renewable penetration, grid flexibility requirements, and long-term system stability objectives within the European energy transition framework.
About BNP Paribas
BNP Paribas is a multinational banking group headquartered in Paris and one of the largest banking institutions in the Eurozone. The bank provides retail banking, corporate banking, institutional banking, asset management, and investment services globally.
BNP Paribas operates across Europe, the Americas, and Asia-Pacific, serving corporate clients, institutional investors, governments, and retail customers. Through its Corporate & Institutional Banking division, the bank structures financing solutions for infrastructure, energy, and industrial projects, including debt financing, structured credit facilities, and capital markets solutions.
The bank has been active in European electricity trading for more than 20 years and participates in both physical and financial power markets. Its energy markets activity includes power trading, hedging instruments, and structured risk management solutions designed to manage exposure to price volatility and merchant market conditions.
Within energy infrastructure, BNP Paribas provides project finance, long-term offtake structuring, and hedging frameworks supporting renewable generation, storage, and related grid assets. The bank supports utilities, independent power producers, and corporates pursuing energy transition and decarbonization strategies.
As part of its Corporate & Institutional Banking platform, BNP Paribas integrates structuring capabilities, credit strength, and risk management tools to support capital-intensive infrastructure deployment across European energy markets.
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