ENERGY STORAGE

Renewable Power Capital and IB Vogt agree 50MWh Finnish storage deal

March 12, 2024

Renewable Power Capital (RPC) has agreed a deal with renewable development platform ib vogt for a 50MW/50MWh ready-to-build battery storage project in the Uusikaupunki region in southern Finland.

RPC will run the procurement and construction processes for the project, “beginning in the first six months of this year”. The project is expected to be completed in Q4 2025 and will be funded on a fully merchant basis, bidding into ancillary services and wholesale power markets.

“The storage deal marks the first of its kind in Finland for RPC, though the owner-operator investor sees the Finnish storage market as a key pillar for growth in the coming years,” a RPC statement said.

Steve Hunter, managing director of power markets and asset management at RPC, said: “Finland has a real need for battery storage at the moment, and this deal can play a significant role in providing the grid stabilisation required to support further renewables build-out. RPC is excited to add to its wind portfolio with this storage project, which is a real milestone for RPC in the Finnish market.”

Anton Milner, CEO of ib vogt added: “We want to thank the experts at Renewable Power Capital for working with ib vogt to establish a path forward in Finland. With a shared goal for clean energy, this storage project marks a real milestone to allow more renewable capacity to be integrated into the system.”