Lyten’s deal to acquire and recommence operations of European battery firm Northvolt out of bankruptcy has winners and losers, but some of the challenges that led to its demise have already been solved.
US-based lithium sulfur battery firm Lyten has now acquired nearly all of the assets of failed European lithium-ion battery startup Northvolt, with this deal to buy its gigafactories in Sweden and Germany and all IP.
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.
Utility EWII has connected a 30MW/43MWh BESS unit to the grid on the island of Bornholm in Denmark, which has the potential to act as an emergency backup in case a nearby interconnector to Sweden fails.
Owner-operators BW ESS and Ingrid Capacity have secured a SEK628 million (US$65 million) green loan financing from Nordea Bank for a jointly-owned 211MW portfolio in Sweden.
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.
As Europe’s BESS industry matures, project owner-operators are taking on more control – and risk – when it comes to procuring technology and services for their projects.
European lithium-ion OEM Northvolt has sold the division in which its ESS manufacturing plant in Poland sits, as it continues to divest non-core assets amidst its ongoing Chapter 11 bankruptcy.
Industry experts discussed the varying approaches in Europe to procuring energy storage via long-term support schemes on Day One of Solar Media’s Energy Storage Summit 2025 in London, which kicked off today (18 February).
