Nala Renewables, IFM Investors and Trafigura’s global renewable energy investment platform, is acquiring a 50MW battery energy storage (BESS) project in Finland from Fu-Gen.
Nala said has agreed to acquire the BESS project in Southern Ostrobothnia, with construction expected to begin in the second quarter of the year and operations in 2026. Financial details were undisclosed.
Trafigura’s power trading team will provide battery optimisation services for the project.
Mike O’Neill, the CEO of Nala Renewables, said: “We’re delighted to have invested in our first project in the Nordics. We look forward to broadening our portfolio in this important region for renewable energy, including onshore wind and further BESS projects.”
Will Herlinger, the head of investment at Nala Renewables, said: “We’re pleased to have transacted with Fu-Gen on this opportunity, a company that shares our expertise and commitment to developing and delivering high-quality renewable energy projects.
“Finland has strong market fundamentals and supportive policies for BESS investors. Further, we look forward to partnering with Trafigura to optimise the BESS, enabling Nala and Trafigura to contribute towards Finland’s ambitious sustainability goals.”
Lorenzo Lanteri, director and founder of Fu-Gen, said: “This transaction marks a significant milestone for Fu-Gen, as we solidify our position in the Finnish market and continue to successfully execute our strategy of developing renewable energy assets in the Nordics.
“We are proud to collaborate with Nala Renewables and to contribute to the decarbonisation of the Finnish electricity sector.”
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