The TBx product is a financial instrument that enables the transfer and management of battery arbitrage risk. Based on realized Day-Ahead (DA) market prices, it provides counterparties with financial exposure to Battery Energy Storage System (BESS) arbitrage value without requiring physical ownership or operation of the underlying asset.
As BESS deployment continues to expand across Europe, financial risk management solutions are becoming increasingly important. The transaction reflects MET Group's commitment to developing tailored market-based solutions that support battery storage deployment and the European energy transition.
The transaction was concluded with Fortinbras' subsidiary, Miranda Clean Energy GmbH. The investment forms part of Fortinbras' Volatility Transfer, Asset-Linked (VOLTAL) strategy, which seeks to invest in innovative financial solutions that transfer power volatility risk and broaden investment opportunities in Europe's evolving electricity markets. This transaction demonstrates how MET International's structured trading capabilities can support investors seeking exposure to battery storage economics without owning or operating physical assets.
“MET's Sales & Trading Segment is becoming an increasingly significant player in the region in medium and long-term fixed-fee tolling structures and revenue optimization for battery storage capacity. We take on the financial risks associated with the asset, and route the battery to both wholesale and balancing markets through our sophisticated trading systems. Building on our regionally diversified portfolio, we offer structured solutions to our wholesale and retail partners, enabling them to take on or reduce exposures linked to standalone batteries, as well as those co-located with intermittent generation. Our trading and business development teams are actively working to further expand our European footprint,” said Bálint Vass, Head of Power Trading at MET International.
"Battery storage is becoming an increasingly important investment opportunity, but investors also need efficient tools to manage the associated market risks. We are pleased to work with MET International, who enabled us to implement the TBx transaction under our VOLTAL investment strategy. We believe solutions like this will play an important role in attracting long-term capital to Europe's energy transition," said Chris Kennedy, co-founder of Fortinbras.
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas, LNG, power, and renewables. MET serves customers in 24 countries through subsidiaries and is present in 33 national energy markets as well as 51 international trading hubs. The company's 1,400+ employees represent close to 60 nationalities. MET Group’s consolidated sales revenue amounted to EUR 28.6 billion, with a total transacted volume of natural gas amounting to 241 BCM and total traded electricity of 160 TWh. MET’s Sales and Trading Segment is present across the full revenue stack in electricity, providing mid- to long term risk underwriting for producers, storage owners and supply structures for end-customers, supported with a growing balancing service provider platform presence in Europe, enabling monetisation and management of positions in the increasingly complex power markets.
Fortinbras Asset Management GmbH
Fortinbras Asset Management GmbH is an investment manager focused on renewable energy and power markets. Through its proprietary VOLTAL investment strategy, the firm invests in innovative financial solutions that facilitate power volatility risk transfer, supporting investment in battery energy storage systems and other flexible energy assets across Europe.