Nala Renewables, IFM Investors and Trafigura鈥檚 global renewable energy investment platform, is acquiring a 50MW battery energy storage (BESS) project in Finland from Fu-Gen.
Nala said has agreed to acquire the BESS project in Southern Ostrobothnia, with construction expected to begin in the second quarter of the year and operations in 2026. Financial details were undisclosed.
Trafigura鈥檚 power trading team will provide battery optimisation services for the project.
Mike O鈥橬eill, the CEO of Nala Renewables, said: 鈥淲e鈥檙e delighted to have invested in our first project in the Nordics. We look forward to broadening our portfolio in this important region for renewable energy, including onshore wind and further BESS projects.鈥�
Will Herlinger, the head of investment at Nala Renewables, said: 鈥淲e鈥檙e pleased to have transacted with Fu-Gen on this opportunity, a company that shares our expertise and commitment to developing and delivering high-quality renewable energy projects.
鈥淔inland has strong market fundamentals and supportive policies for BESS investors. Further, we look forward to partnering with Trafigura to optimise the BESS, enabling Nala and Trafigura to contribute towards Finland鈥檚 ambitious sustainability goals.鈥�
Lorenzo Lanteri, director and founder of Fu-Gen, said: 鈥淭his transaction marks a significant milestone for Fu-Gen, as we solidify our position in the Finnish market and continue to successfully execute our strategy of developing renewable energy assets in the Nordics.
鈥淲e are proud to collaborate with Nala Renewables and to contribute to the decarbonisation of the Finnish electricity sector.鈥�
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