The Mobility House Energy and the Electrohold Group today announced a bankable tolling model for BESS projects in Germany. It combines The Mobility House Energy’s battery optimisation, energy trading and route-to-market capabilities established since 2016 with the Electrohold Group’s credit bond structured framework, providing a robust alternative to less secured tolling contracts or fully merchant approaches.
The Electrohold Group is part of Eurohold Bulgaria and is Bulgaria’s leading electricity distributor, supplier and trader. The group holds around 40% market share in electricity distribution and serves more than two million customers nationwide. Following Eurohold’s acquisition of CEZ Group’s energy assets in Bulgaria in 2021, the Electrohold Group operates across regulated electricity distribution as well as electricity supply and trading.
Key parameters at a glance
- Contract tenor: typically 5–7 years from Commercial Operation Date (COD)
- Eligible portfolio size: minimum pool size of 50 MW
- Structure: full tolling or partial tolling (typical split 90/10 or 80/20; other configurations possible)
- Credit enhancement: non-cancellable security (payment bond) covering up to 100% of the annual tolling fee, maintained for the full term; fully reinsured with A-rated reinsurers, with evidence of reinsurance provided to the beneficiary
Predictable revenues for BESS projects
Increasing curtailment and operational constraints imposed by grid operators, together with an uncertain regulatory outlook, including the Bundesnetzagentur’s ongoing AgNes process, are prompting investors and asset owners depending on refinancing costs and risk appetite. Under a tolling structure, the BESS owner receives a fixed payment per megawatt (MW) for the entire contract duration – typically 5-7 years starting from the Commercial Operation Date (COD).
The Mobility House Energy takes full responsibility for dispatch decisions, market optimisation, and participation across relevant energy markets, while strictly respecting the system’s technical specifications and warranty limits.
The Electrohold Group bolsters its project structure with a robust, rock-solid security package. Tolling payments are secured throughout the entire contract period by an A-rated bond. This ensures revenues are 100% bankable for lenders and investors. For asset owners and financing banks, this bond provides downside protection with clear triggers and reliable liquidity. In most cases this is more effective and predictable than conventional corporate guarantees.
Partial tolling: a secured base plus market upside
Under partial tolling, the BESS owner receives a combination of stable fixed income and exposure to market upside. Typically, the majority of the capacity (e.g. 80%) is covered by a fixed, secured tolling fee, while the remaining share (20 %) is traded on a merchant basis and benefits from favourable power price movements. Other splits (e.g. 70/30 %, 50/50 %) are possible depending on the project’s risk profile and investor preference. In the secured portion, The Mobility House Energy and the Electrohold Group bear most of the short-term market price risk.
Long-standing market expertise meets financial security
The Mobility House Energy has been optimising and trading battery energy storage systems across multiple European markets since 2016. The company currently manages 500 MW / 1,200 MWh of operational capacity across four countries and has a further 700 MW / 1,700 MWh under contract, with COD in 2026. This portfolio spans 40 installations across 30 sites, comprising roughly two-thirds standalone and one-third co-located assets. On a day-to-day basis, The Mobility House Energy is responsible for dispatch and market participation across all relevant revenue streams, including FCR, aFRR, day-ahead, intraday continuous and imbalance markets.
The Electrohold Group is one of Bulgaria’s leading energy companies with a strong balance sheet. In 2024 its energy business generated revenues of approximately €1.1 billion. Through structured credit enhancement and reliable payment mechanisms, the Electrohold Group significantly improves the bankability of the tolling cash flows.
"Battery storage enables more renewables and helps reduce the need for costly grid expansion, so the market is growing fast, but regulatory risks are currently rising, too. By combining The Mobility House Energy’s proven cross-market optimisation and trading with Electrohold’s A-rated, reinsured payment security, we turn volatile merchant exposure into predictable cash flows that support sound financing decisions."
Marcus Fendt, Managing Director,
The Mobility House Energy