SEB NORDIC ENERGY’S PORTFOLIO COMPANY LOCUS ENERGY COLLABORATES WITH INGRID CAPACITY TO CREATE THE LARGEST BATTERY ENERGY STORAGE SYSTEM IN FINLAND

SEB Nordic Energy’s portfolio company, Locus Energy collaborates with Ingrid Capacity to build the largest battery energy storage project in Finland, contributing 70 MW/140 MWh battery power to Locus Energy’s existing Finnish portfolio already consisting of solar-, wind- and hydro power. The project is situated in Nivala Municipality in the Ostrobothnia region and is estimated to be finished during 2026.

The 70MW/140MWh project in Nivala municipality is the second investment in Finland in a short time, following a 125 GWh wind portfolio consisting of 13 WTGs spread over three wind parks in the northwest, east and southwest of the country. It thus strengthens Locus Energy’s existing portfolio of wind-, solar- and hydro assets in Finland and contributes with an important new flexibility and balancing function to the system, creating opportunities for Locus Energy to optimize the system output.

“The Locus Energy portfolio in Finland now consists of wind-, solar-, hydro and battery energy storage assets. This enables us to work with our assets as a system, using the hydro-and battery energy storage assets to balance the system as the volatile production assets of wind and solar shifts in production. With this system approach, we can maximize the output from the energy produced, creating a system premium both in terms of impact and results.” Says Mattias Söderqvist, deputy CEO and Partner at Locus Energy.

As Finland aims to become carbon neutral by 2035, the production of energy from renewable sources, mainly wind power, is believed to continue to increase rapidly. As these volatile energy production assets gain more prominence in the system, the demand for energy reserves will increase. The battery energy storage collaboration project between Locus Energy and Ingrid Capacity will thus be an important enabler for balancing the Finnish energy system.

“The project in Nivala further strengthens the existing partnership between Ingrid Capacity and Locus Energy, and together we will build one of the largest battery energy storage systems in the Nordics. Our aim to accelerate the shift towards flexibility and grid optimization pairs well with Locus Energy’s renewable energy production, and this shared vision of creating a sustainable energy future have proven an excellent foundation for a productive and impactful partnership”, says Nicklas Bäcker, Chief Strategy Officer at Ingrid Capacity".

The project will be located next to Fingrid’s Uusnivala 400 kV substation, in Nivala Municipality, Northern Ostrobothnia region in Finland. The system will be connected directly to the national transmission network (TSO Fingrid) and have an important function to stabilize the grid. The project has started and is expected to be completed in 2026, something that is welcomed by the The Mayor of Nivala, Päivi Karikumpu “We are very pleased to have Ingrid Capacity and Locus Energy’s investment in Nivala. This project not only strengthens the local economy, but it also significantly contributes to Finland's energy transition and grid stability. We are looking forward to collaborating with both parties on this important project”.

The national transmission operator Fingrid emphasizes the important aspects of flexibility and resilience. “As Finland’s transmission system operator, Fingrid plays a key role in enabling the energy transition while maintaining grid stability. We welcome Ingrid Capacity and Locus Energy’s project in Nivala as it enhances the flexibility and resilience of our grid while enabling the integration of more renewable power” says Jussi Jyrinsalo, Senior Vice President at Fingrid

The Nivala battery energy storage system marks the second collaboration project between Locus Energy and Ingrid Capacity. The first project, currently under construction, consists of 13 new grid scale battery energy storage systems across the south of Sweden, and is planned to add an additional 196 MW of flexible capacity to the national grid in price areas SE3 and SE4.

“SEB Nordic Energy continues to make significant investments in Sweden, Norway and Finland, developing a pan-Nordic IPP of renewable energy. The battery energy storage system in Nivala is an investment that further diversifies the Fund’s Finnish portfolio, further advancing the renewable energy transition, —aligned with the Fund’s mission to accelerate renewable energy solutions” says Richard Gavel, Portfolio Manager, SEB Nordic Energy

SEB Nordic Energy is focusing on direct investments in renewable energy infrastructure assets in the Nordic region. Investments are being made in small-scale hydropower, wind power, solar energy, battery storage and energy efficiency solutions, both through new construction and through upgrading of existing facilities to increase efficiency and energy production. The fund is open to professional investors with an investment horizon of more than 15 years and is a so-called Article 9 fund with sustainable investments as its objective.
SEB Nordic Energy | SEB (sebgroup.com)

Locus Energy is a portfolio company of the Article 9 fund SEB Nordic Energy with access to Nordic institutional capital. Locus Energy invests in assets for sustainable local energy production that can be upgraded with new technology to accelerate development and is currently present through direct investments in 61 Nordic municipalities. Locus Energy | www.locus.energy

For more information, please reach out to:
Niklas Sörensen, CEO, Locus Energy, niklas@locus.energy +46 70 268 97 35
Richard Gavel, Portfolio manager, SEB Nordic Energy, richard.gavel@seb.se + 46 70 772 32 53