Developer OX2 and L&G NTR Clean Power (Europe) Fund have agreed a deal for a 2-hour battery energy storage system (BESS) in Finland.
OX2 has sold the 50MW/110MWh BESS project in Uusnivala to L&G NTR Clean Power (Europe) Fund, a partnership between investors Legal & General (L&G) and NTR.
The Uusnivala project is just shy of being largest BESS project being built currently in the Nordic country, which at present would be a 56.4MW/112.9MWh system from IPP Neoen (Premium access article). OX2 didn’t reveal when the project is expected to come online.
The BESS will participate in Finland’s ancillary service and wholesale energy markets, being located near an interconnection point with a high penetration of wind energy. The market is still predominantly ancillary services, as most wind-dominated renewables markets are, but projects have started to move to 2-hour durations recently.
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Around 300MW of grid-scale BESS is expected to come online in Finland over the next two years according to research firm LCP-Delta.
It is OX2’s first sold BESS project in Finland, and comes shortly after it sold its first BESS project anywhere, in Sweden, earlier this year. The company is primarily active in wind and solar but is expanding into BESS, and an executive discussed its approach to the new sector in an interview with us last year (Premium access).
L&G is a UK-based investor and asset manager which has not yet moved into renewables at scale yet, while NTR is a Ireland-based renewables developer and infrastructure investor. Go to our sister site Solar Power Portal for coverage of NTR’s activity.
