SEB Nordic Energy and Ingrid Capacity Unveil Nordics’ Largest Battery Storage Project to Boost Finnish Renewables

(IN BRIEF) SEB Nordic Energy’s portfolio company Locus Energy, in partnership with Ingrid Capacity, is launching the largest battery energy storage project in the Nordics. The project, which will add 70 MW/140 MWh of storage to its Finnish renewable assets, is set for completion in 2026 in Nivala Municipality, Ostrobothnia. This development follows a significant wind portfolio investment and is aimed at enhancing system flexibility and balancing. According to Portfolio Manager Richard Gavel, the initiative supports SEB Nordic Energy’s mission to develop a pan-Nordic independent power producer and accelerate the renewable energy transition.

(PRESS RELEASE) STOCKHOLM, 5-Mar-2025 — /EuropaWire/ — SEB Nordic Energy’s portfolio company Locus Energy, partnering with Ingrid Capacity, is set to construct the Nordics’ largest battery energy storage facility. The project, adding 70 MW/140 MWh to SEB Nordic Energy’s Finnish renewable portfolio—which already includes wind and hydropower—is slated for completion in 2026 in Finland’s Nivala Municipality, Ostrobothnia region.

This initiative marks SEB Nordic Energy’s second major Finnish investment following its 125 GWh wind portfolio across three wind parks, further boosting system flexibility and enhancing energy balancing capabilities. Richard Gavel, Portfolio Manager at SEB Nordic Energy, noted that the new battery storage project diversifies the fund’s assets and accelerates the transition to sustainable energy, aligning with the company’s mission to develop a pan-Nordic independent power producer.

Ingrid Capacity, renowned for optimizing grid-scale battery storage and flexible assets across Europe, entered a strategic partnership with SEB Nordic Energy in September 2024, underpinning this latest development.

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SOURCE: Skandinaviska Enskilda Banken AB (SEB)