Sustainable investment manager Mirova has committed €65m to launch its Nordic Storage Platform (NSP) alongside developer Ingrid Capacity, targeting utility-scale battery energy storage systems (BESS) across the Nordic region.
The Natixis Investment Managers affiliate is investing in a two-project portfolio in Finland and Sweden totaling 145MW of power capacity and 290MWh of storage capacity.
Under the partnership, Ingrid Capacity will manage development, construction, technical operations and commerclial optimisation across the platform.
Antoine Blayau, investment director at Mirova, said: “Battery storage is becoming a critical component of Europe’s energy infrastructure, enhancing grid flexibility, supporting renewable integration and strengthening security of supply.
“This initial portfolio is underpinned by attractive market fundamentals and a resilient risk-return profile, including an offtake agreement for the Pedersöre project. We look forward to scaling the platform and supporting the development of more resilient energy systems across the Nordic region.”
Axel Holmberg, CEO of Ingrid Capacity, said: “We are pleased to be Mirova’s first BESS partner in the Nordics. Strong partnerships are essential when creating value for the long term and our two institutions share the same sense of responsibility in doing so.
“Both companies understand the critical role for BESS in building a better grid and European resilience. Our mission is to build Europe’s leading integrated flexibility platform. Trusted partners like French Mirova are key to that growth journey.”
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