The development of lifetime estimation models for Lithium-ion battery cells, which are working under highly variable mission profiles characteristic for wind power plant applications, requires a lot of expenditures and time resources. Therefore, batteries have to be tested under accelerated lifetime ageing conditions. This paper presents a three-stage methodology used for accelerated lifetime testing of Lithium ion batteries. The results obtained at the end of the accelerated ageing process were used for the parametrization of a performance-degradation lifetime model, which is able to predict both the capacity fade and the power capability decrease of the selected Lithium-ion battery cells. In the proposed methodology both calendar and cycling lifetime tests were considered since both components are influencing the lifetime of Lithium-ion batteries. Furthermore, the proposed methodology was validated by running a verification stage of the lifetime model, where Lithium-ion battery cells were tested at normal operating conditions using an application specific mission profile.