Merus Power, a Finnish technology company specializing in energy solutions, has announced a significant collaboration with a joint venture comprising Skip Wind 5 Oy, part of the Ardian Clean Energy Evergreen Fund (ACEEF), and Lappeenrannan Energia Oy, a municipal energy company based in Finland. The agreement entails the delivery of a comprehensive 38-megawatt battery energy storage system (BESS), exceeding 40 megawatt-hours, aimed at bolstering the Finnish power grid. This ambitious project, located near the Mertaniemi power plant in Lappeenranta, is expected to be operational by spring 2025.
The collaboration marks a pivotal moment for Merus Power, bringing its expertise in electricity markets, intelligent power electronics, and customer-centric solutions to the forefront. Kari Tuomala, CEO of Merus Power, highlighted the deal as a testament to the company’s successful strategy and its esteemed position within the sector. The project, valued at approximately 15 million euros for Merus Power’s share, includes a full suite of services from commissioning to testing in accordance with Finland’s transmission system operator, Fingrid’s, stringent approval standards.
Ardian, a leading global private investment house, is financing the project through its Ardian Clean Energy Evergreen Fund, marking the fund’s inaugural investment in battery storage technology. Benjamin Kennedy, Ardian’s Managing Director for Renewables Infrastructure, emphasized the strategic importance of integrating battery storage with Finland’s growing wind capacity to ensure a balanced and efficient energy system. Ardian’s investment strategy in the Nordics, facilitated by its operational partner eNordic Oy, underscores its commitment to spearheading sustainable energy development in the region.
The BESS project is poised to play a crucial role in Finland’s energy ecosystem, particularly in stabilizing the grid by participating in Fingrid’s frequency reserve markets. This capability is increasingly vital as renewable energy sources, such as wind and solar, become more prevalent. The system’s fast-reactive storage will provide essential balance between electricity production and consumption with millisecond precision, a critical feature for the modern electricity network’s stability.
Moreover, the agreement includes a long-term maintenance and operation contract, ensuring the system’s high availability and longevity. Markus Ovaskainen, Sales Director of Merus Power, highlighted the added value of remote control and cloud services in enhancing operational reliability and ensuring the sustainability of the investment. This project not only signifies a leap forward in energy storage technology but also reinforces the collaborative efforts of Merus Power, Ardian, and Lappeenrannan Energia in advancing Nordic energy infrastructure towards a more sustainable future.
