Ardian, a private investment house, in partnership with its operating platform eNordic, has taken a final investment decision to build its second battery energy storage system (BESS) in Finland.
This new 30 MW/30 MWh BESS project further strengthens Ardian’s commitment to advancing energy infrastructure in the Nordics.
The investment, made through the Ardian Clean Energy Evergreen Fund (ACEEF), marks the fund’s second investment in the BESS asset class, with the first investment made in February 2024. The existing project, located in the city of Riihimäki, is scheduled to be completed by 2Q26 and takes ACEEF’s total BESS capacity to 68.5 MW.
The project was developed by Merus Power, a Finnish power technology company. Merus is responsible for the EPC of the project and will provide operation and maintenance services to the plant.
The projects will benefit from integration to OPTA, Ardian’s proprietary data analysis platform, designed to optimise the management of their renewable energy portfolio and support new investments. Ardian now tracks over 3 GW of renewable assets through OPTA.
As Finland’s weather dependent renewable energy share continues to grow, driven largely by wind power, battery storage is crucial for ensuring grid stability. This project is a key step in managing grid stability and strengthening long-term system reliability.
To date, key acquisitions as part of Ardian’s Nordic strategy include: Nevel, the district heating and industrial energy solutions company; Verne, a green data centre platform; and Míla, Iceland’s largest telecoms infrastructure company. Ardian plans to continue building its clean energy portfolio in Finland, with plans for ACEEF to acquire and integrate renewables projects to improve grid efficiency and energy security.
Ardian’s Nordic clean energy portfolio now totals over 500 MW, with renewable energy company Nevel active in district heating, industrial utilities, and biogas across Finland, Sweden, and Estonia.
Benjamin Kennedy, Managing Director of Infrastructure at Ardian, responded: “Our first investment in Finnish battery storage was a milestone, and this second project demonstrates Ardian’s commitment to clean energy expansion. Our team, combined with local market expertise, enables us to navigate the complexities of these projects and deliver long-term sustainable value for our investors. We have identified an opportunity in the Nordics for battery storage and have plans to continue to build out our platform.”
Eero Auranne, CEO of eNordic, added: “This battery storage project has diversified revenue sources and provides essential grid services to enhance grid stability. Additionally, it can mitigate short-term volatility associated with growing wind and solar power generation. This makes it a complementary asset to the ACEEF Nordic portfolio”
ACEEF will continue to focus on core renewable assets including solar, wind and hydro, as well as emerging technologies across biogas, biomass, storage, and energy efficiency.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global’s Winter 2024 issue
Don’t miss out on our last issue of the year! The Winter issue of Energy Global is out now; this issue kicks off with a guest comment from Veronica Maxted, Director of Renewables at RS Group before moving on to a regional report on the current state of the renewables industry in North America. This edition of the magazine also explores key topics such as inspection and maintenance, solar optimisation, energy storage technology, geothermal drilling and operations, and much more. With contributions from key industry leaders such as Viridien, Hexagon, DNV Energy Systems, and Halliburton, among others, dive into the issue and see what you could learn.
Read the article online at: https://www.energyglobal.com/energy-storage/14022025/ardian-expands-finish-bess-portfolio-with-second-investment/
#Ardian #expands #Finish #BESS #portfolio #investment