Sweden-headquartered BESS developer-operator Ingrid Capacity will build a 70MW/140MWh project in Finland, which it claimed will be the largest in the country.
Ingrid is developing the battery energy storage system (BESS) project in partnership with investor SEB Nordic Energy portfolio company Locus Energy for a commercial operation date (COD) in 2026.
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The firm said it the project in Nivala, in the Northern Ostrobothnia region of Finland, is the largest ready-to-build (RTB) BESS in Finland. The previously claimed largest project in the country was one that independent power producer (IPP) Neoen started construction on in January 2024, at 56.4MW/112.9MWh.
As well as being a BESS project developer which sells majority stakes in its portfolios to long-term investors, Ingrid Capacity has also its own optimisation platform for operating and trading BESS in the market once operational. CEO Axel Holmberg discussed the move into optimisation in September 2024 with Energy-Storage.news (Premium access).
Nicklas Bäcker, chief strategy officer for Ingrid, who has also given interviews to this site, commented on the Finland project: “We are scaling up rapidly to larger systems with greater capacity. Our optimisation platform allows us to unlock new ways for BESS to support the grid and strengthen our value proposition to grid operators and partners.”
It is by far the firm’s largest project so far, its first abroad, and its first 2-hour duration system, having opted for more distributed portfolios in Sweden to-date – 211MW/211MWh with BW ESS and 196MW/196MWh with SEB Energy/Locus in Sweden. It is developing a 2-hour, 100MW/200MWh project in Sweden but that is not expected online until 2027.
“After a successful collaboration in Sweden where we are currently developing 13 large-scale battery sites in SE3 and SE4, we are excited to take the collaboration with Ingrid Capacity to another of our key markets, where we will develop the largest battery energy storage system in Finland,” commented Mattias Söderqvist, deputy CEO and partner at Locus Energy.
Ingrid had revenue of 310 million SEK (US$30 million) and EBITDA of 180 million SEK (US$17.4 million) in 2024, both roughly three times higher than 2023.
Revenues in the Finnish storage market have largely been driven by ancillary services, primarily mFRR, aFRR, FCR-N, FCR-D, and FFR, but opportunities in energy trading are also increasing with the renewables buildout. This has driven the push to 2-hour systems, exemplified by Ingrid and Neoen’s projects, while other, smaller ones still tend to be 1-hour systems. See all coverage of Finland here.
RES sells 70MW/160MWh BESS project in Sweden
In related Nordic energy storage news, developer RES has sold a 70MW/160MWh, 2.3-hour duration project to Delta Capacity, a Switzerland-based developer. The project is expected to come online in Q1 of 2026, which will make it the largest in Sweden and most likely the Nordics.
