Glennmont Partners, an infrastructure manager owned by Nuveen, has marked its entry into the energy storage market with a Finnish battery project.
Glennmont has teamed up with Nordic energy firm Ilmatar and smart energy solutions company Alfen to develop a 30MW battery storage project on a site adjacent to Glennmont鈥檚 211MW Piiparinm盲ki onshore wind farm in the Pyh盲nt盲 region of Central Finland.
The project started last month and is expected to be ready for commercial operation in January 2024.
Francesco Cacciabue, a partner at Glennmont, said: 鈥淏attery technology will play an increasingly vital role in both Finland and the wider world鈥檚 energy mix in the years to come, mitigating intermittency issues and ensuring we gain maximum benefit from established renewables technologies.
鈥淪iting the project next to our existing Piiparinm盲ki wind farm allows us to take full advantage of the fruitful relationship between the two technologies benefits, ensuring maximum opportunity for our investors.鈥�
Juha-Pekka Weckstr枚m, the CEO of Ilmatar, said: 鈥淏attery storage technologies are at a stage where they can play a significant role in complementing traditional renewables in a nation鈥檚 power mix, and the deployment of a modular design places this project at the forefront of its rollout globally.鈥�
Michelle Lesh, chief commercial officer at Alfen, said: 鈥淓nergy storage is a critical enabler to meeting this goal, and Alfen鈥檚 battery storage technology such as TheBattery Elements continues to evolve to better stabilize electricity grids and integrate renewable projects. It will play a vital role in Europe鈥檚 transition to mitigate climate change and enable a more sustainable energy future.鈥�
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