Global private equity firm Ardian has enlisted power solutions firm Merus Power for its first BESS project, a 38MW/40MWh system in Finland.
Finland-headquartered Merus Power has signed a contract for the BESS technology order with a joint venture entity comprised of local municipal energy company Lappeenrannan Energia Oy and an Ardian-managed fund, Ardian Clean Energy Evergreen Fund (ACEEF).
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The project will be deployed in Lappeenranta, southern Finland, near Lappeenrannan Energia’s Mertaniemi gas power plant and will be completed by Spring 2025.
Merus Power said its ‘share of the investment’ in the project totals €15 million (US$16 million), which includes the delivery, testing and commissioning of the BESS. The total investment is larger, including locally built infrastructure and a long-term maintenance contract for the project, the latter also provided by Merus Power.
In an interview at Solar Media’s Energy Storage Summit EU in London last year, Merus Power told Energy-Storage.news how additional wind capacity and the limitations of pumped hydro energy storage (PHES) were driving the energy storage market in Finland. Like in many markets, high ancillary service prices have driven the business case of large-scale projects.
But, new rules around state of charge (SOC) and more energy trading opportunities have opened up the business case to 2-hour systems, including one in Finland independent power producer (IPP) Neoen is building which is the largest under-construction in the Nordics at 112.9MWh, also near Lappeenranta.
Last week saw Utility Helen launch a 40MW BESS project for a 2025 commissioning, in Nurmijärvi.
Energy-Storage.news’ publisher Solar Media will host the 9th annual Energy Storage Summit EU in London, 20-21 February 2024. This year it is moving to a larger venue, bringing together Europe’s leading investors, policymakers, developers, utilities, energy buyers and service providers all in one place. Visit the official site for more info.
