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SEB Nordic Energy invests in major battery storage project

computer-generated picture of battery-storage park in Finland
Computer-generated picture of the future battery storage park in Finland.

SEB Nordic Energy’s portfolio company, Locus Energy, in collaboration with Ingrid Capacity, will build the largest battery energy storage project in the Nordics. The project will add 70 MW/140 MWh of storage capacity to SEB Nordic Energy’s Finnish portfolio, which already includes wind and hydropower. Located in Nivala Municipality in Finland’s Ostrobothnia region, the project is expected to be completed in 2026.

The Nivala battery storage project marks SEB Nordic Energy’s second significant investment in Finland in a short time. It follows a 125 GWh wind portfolio comprising 13 wind turbines across three wind parks. This investment further strengthens the fund’s existing portfolio of renewable energy assets in Finland and improves the portfolio’s system flexibility and balancing capabilities, creating new opportunities for optimising energy output. 

“SEB Nordic Energy continues to make significant investments in Sweden, Norway, and Finland, developing a pan-Nordic IPP* for renewable energy. The battery system in Nivala further diversifies the fund’s Finnish portfolio and accelerates the renewable energy transition—aligned with the fund’s mission to drive sustainable energy solutions,” says Richard Gavel, Portfolio Manager, SEB Nordic Energy.

Ingrid Capacity develop and optimise grid-scale battery energy storage and flexible assets across Europe. SEB Nordic Energy formed a strategic partnership with Ingrid Capacity in September 2024.

*IPP, Independent Power Producer

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SEB fund invests in a large Swedish battery storage system

The fund is intended for professional investors only. All investments involve risk, and the fund can decrease in value or increase significantly. Prospectus and sustainability-related disclosures are available from SEB. SEB Asset Management AB has prepared this material.

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