Luxcara acquires construction-ready battery storage project in Finland
Project Tuisku strengthens Luxcara’s Nordic footprint and supports grid stability in volatile power market
- New battery energy storage system (BESS) project brings Luxcara’s battery storage capacity under construction to approaching 1 GW
- With 125 MW capacity, Tuisku is expected to rank among Finland’s largest storage assets
- The country’s high and growing share of wind energy and deep power market liquidity create strong fundamentals for large-scale battery storage
- Fully permitted project with binding grid connection and construction already underway; commercial operation expected in summer 2027
- Long‑term tolling agreement will underpin predictable revenues and enhances bankability
Luxcara, a leading German asset manager for energy transition infrastructure, has acquired a utility-scale battery energy storage system project in Finland. The Tuisku project marks a further milestone in Luxcara’s growing storage portfolio, expanding the company’s footprint in the Nordics and reinforcing its role in supporting grid stability, renewables integration, and energy security. Luxcara acquired the project from local developer Pohjan Voima.
The Tuisku project is located near Keminmaa in Southern Lapland and has a planned capacity of up to 125 MW. It is one of the most mature BESS developments in the Finnish market and benefits from a highly strategic location adjacent to Fingrid’s 400 kV Keminmaa substation, providing direct access to Finland’s high‑voltage transmission network. Once constructed, it is expected to be among the largest BESS assets in Finland. Construction is planned to begin in 2026, with commercial operation targeted for summer 2027.
Janis Hoberg, Investment Director at Luxcara, says:
Battery storage is becoming a cornerstone of Europe’s power system, and Finland offers particularly strong fundamentals for flexible assets.
”Tuisku BESS combines an advanced development status with an excellent grid location in a market that is well suited for utility-scale storage. This acquisition reflects Luxcara’s disciplined approach to building a diversified energy infrastructure portfolio.”
The project is fully permitted, with all land rights secured and a legally binding grid connection agreement signed directly with transmission system operator Fingrid. Grid connection works are already underway, providing clear execution certainty for the construction phase. The project will be anchored by a long‑term tolling agreement, delivering predictable revenues and further strengthening the project’s risk profile. Finland’s high and growing share of renewable energy generation creates sustained demand for flexibility, supporting robust commercial structures for large‑scale battery storage.
The Tuisku project builds on Luxcara’s established track record in battery storage. In Germany, Luxcara is invested in the Waltrop BESS site, one of the country’s largest storage projects. With the addition of Tuisku, Luxcara’s battery storage capacity under construction is now approaching 1 GW, underscoring the company’s rapid scaling in this strategically important asset class.
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Luxcara acquires construction-ready battery storage project in Finland, source