Renewable Power Capital (RPC) has acquired a 50MW ready-to-build battery storage project in Finland from Ib Vogt.
RPC will run the procurement and construction processes for the project, beginning in the first 6 months of this year.
The project in the southern Finnish region of Uusikaupunki is expected to be completed in Q4 2025 and will be funded on a fully merchant basis, bidding into ancillary services and wholesale power markets.
Following its launch in 2020, RPC has built and now operates over 170MW of Finnish wind capacity across three sites, amongst its wider 680MW+ operational and under construction Nordic portfolio.
The storage deal marks the first of its kind in Finland for RPC, though the owner-operator investor sees the Finnish storage market as a key pillar for growth in the coming years.
Steve Hunter, Managing Director of Power Markets and Asset Management at RPC, said: “Finland has a real need for battery storage at the moment, and this deal can play a significant role in providing the grid stabilisation required to support further renewables build-out.
RPC is excited to add to its wind portfolio with this storage project, which is a real milestone for RPC in the Finnish market.”
Anton Milner, CEO of Ib Vogt, said: “We want to thank the experts at Renewable Power Capital for working with Ib Vogt to establish a path forward in Finland.
With a shared goal for clean energy, this storage project marks a real milestone to allow more renewable capacity to be integrated into the system.”
Renewable Power Capital is a London-headquartered pan-European renewables company established in 2020, with the backing of CPP Investments.
