OX2 sells 110MWh Finland BESS to L&G NTR fund

LinkedIn
Twitter
Reddit
Facebook
Email

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

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.

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.

Read Next

June 6, 2025
Owner-operator Eco Stor has connected what it claimed is the largest BESS in Germany to the grid, while its former majority owner is going to build a BESS in Finland.
June 3, 2025
Battery energy storage system (BESS) developer Giga Storage has closed financing on a 300MW/1,200MWh project in the Netherlands.
May 29, 2025
Ingrid Capacity and SEB have broken ground on a large-scale BESS in Finland, while Monsson has acquired a project in Sweden which it will start building in June.
May 28, 2025
OX2’s 270MWh Muswellbrook solar-plus-storage site has been approved by the NSW Independent Planning Commission, subject to conditions.
May 22, 2025
BYD will supply more than half of the total battery storage capacity at developer Grenergy’s 11GWh Oasis de Atacama project in Chile.

Most Popular

Email Newsletter