Statkraft and Swedish developer OX2 have signed a seven-year, 235-MW battery energy storage agreement in Finland. This is Statkraft’s BESS PPA in the Nordics to date. The PPA covers two BESS facilities, with capacities of 110 MW (220 MWh) and 125 MW (250 MWh) respectively, which are currently under construction.
Statkraft will optimise the batteries over a seven-year term, starting in28, along with an innovative revenue floor structure to support the project’s financing. The batteries will be located at the same site as OX2’s wind projects Kannisto in Halsua municipality and Korkeamaa in Soini municipality. The agreement highlights Statkraft’s commitment to advancing battery energy storage in the Nordics to improve system flexibility, stability, and renewable integration.
Battery energy storage is crucial for managing intermittent renewable energy generation, ensuring the reliability of supply and facilitating the energy transition.