Statkraft signs contract with OX2 to optimize BESS in Finland
The power purchase agreements (PPA) covers two BESS facilities, with capacities of 110 MW (220 MWh) and 125 MW (250 MWh) respectively, which are currently under construction.
Statkraft, a provider of power purchase agreements (PPAs) and a producer of renewable energy in Europe, and Swedish independent power producer (IPP) OX2 have closed an agreement for two large-scale battery energy storage systems (BESS) in Finland.
The PPA covers two BESS facilities, with capacities of 110 MW (220 MWh) and 125 MW (250 MWh) respectively, which are currently under construction, according to a press release.
Statkraft will optimise the batteries over a seven-year term, starting in 2028, along with an innovative revenue floor structure to support the project’s financing. The batteries will be located at the same site as OX2’s wind projects Kannisto in Halsua municipality and Korkeamaa in Soini municipality.
“We are proud to partner with OX2 in what is our largest battery optimisation agreement in the Nordics to date,” said Hallvard Granheim, Executive Vice President Markets, Statkraft “Long‑term optimisation agreements like this provide predictable revenues, which can be an important enabler for developers when financing battery energy storage projects, while also supporting the delivery of much‑needed system flexibility.”
“This agreement underlines the growing role of battery storage in Finland’s energy market,” said Heikki Herttuainen, Senior Originator, Statkraft Finland. “As wind power expands, batteries are essential to managing intermittency and unlocking flexibility for the system. Optimising these assets locally allows us to support grid stability while creating value for both the developer and the Finnish power market.”
“This agreement is a significant commercial milestone for OX2 as we continue to expand our energy storage business and diversify our portfolio. Statkraft’s strong market presence and optimisation expertise provide a solid foundation for maximising the value of our BESS assets over the long term,” said Mehmet Energin, Chief Commercial Officer, OX2. “By combining our project delivery and asset management capabilities with Statkraft’s market leadership, we are strengthening the competitiveness of our portfolio and accelerating the growth of flexible, future proof energy solutions in the Nordics.”
