Ardian, in partnership with its operating platform eNordic, has reach a final investment decision to build a 30MW battery energy storage system (BESS) in Finland.
This marks the second BESS investment in Finland from Ardian’s Clean Energy Evergreen Fund (ACEEF).
The 30MW/30MWh project, located in the city of Riihimaki, is scheduled to be completed in the first half of 2026 and takes ACEEF’s total BESS capacity to 68.5MW.
With this addition, Ardian’s Nordic clean energy portfolio now exceeds 500MW.
It follows investment in Mertaniemi battery storage energy project in February 2024, expected to start operations in the second quarter of 2025.
The battery storage project has been developed by Merus Power, a Finnish power technology company.
Merus will construct the project and will provide operation and maintenance services to the plant.
The projects will benefit from integration to OPTA, Ardian’s proprietary data analysis platform, designed to optimise the management of renewable energy portfolio and support new investments.
Ardian now tracks over 3GW of renewable assets through OPTA.
As Finland’s weather dependent renewable energy share continues to grow, driven largely by wind power, battery storage is crucial for ensuring grid stability.
This project is a key step in managing grid stability and strengthening long-term system reliability.
“Our first investment in Finnish battery storage was a significant milestone, and this second project further demonstrates Ardian’s commitment to clean energy expansion.
“Our experienced team, combined with deep local market expertise, enables us to successfully navigate the complexities of these projects and deliver long-term sustainable value for our investors.
“We have identified a significant opportunity in the Nordics for battery storage and have ambitious plans to continue to build out our platform.
“This battery storage project has diversified revenue sources and provides essential grid services to enhance grid stability.
“Additionally, it can mitigate short-term volatility associated with growing wind and solar power generation.
“This makes it a highly complementary asset to the ACEEF Nordic portfolio,” said Benjamin Kennedy, Managing Director Infrastructure – Renewables, at Ardian.