ENERGY STORAGE

SENS & Callio sign deal for 530MWh of Finnish pumped hydro storage and 85MW of BESS

May 23, 2024

Sustainable Energy Solutions Sweden (SENS) has agreed a deal with Finnish development company Callio to develop a 530MWh underground pumped hydro storage and 85MW battery energy storage system (BESS) in the town of Pyhäjärvi, Finland.

This partnership aims to develop an energy storage system at the Pyhäsalmi mine, integrating a battery energy storage system (BESS) with an underground pumped storage hydroelectric (UPHS) facility, and photovoltaic solar parks (PV).

Permits have been secured for the projects, with the BESS in ready-to-build phase and expected to be operational within a year.

The full project is expected to commence in 2025. The UPHS system has a maximum output of 75MW.

UB Corporate Finance will act as financial partners for the development, while Axpo will be responsible for energy trading in relation to the assets.

The Finnish government has allocated funds of €26.3 million to the project.

Henrik Boman, CEO of SENS, said: “SENS is proud to partner with Callio for an innovative energy storage project at Pyhäsalmi mine. Integrating BESS and UPHS, the project will boost efficiency, grid stability, and sustainability for the region. It showcases our capacity to repurpose deserted mines into functional energy storage sites, providing a crucial solution for the future energy landscape. This marks an important step in our international expansion.”