New Nordic Energy Storage Equipment Trading Platform

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6 Frequently Asked Questions about “New Nordic Energy Storage Equipment Trading Platform”

How many battery-based energy storage systems are in the Nordics?

To date, more than 200 MW of battery-based energy storage systems are operational in the Nordics. In addition, recent announcements and projects under construction amount to more than 450 MW in Sweden and Finland combined, with the pipeline in Sweden accelerating and already accounting for more than two-thirds of the total.

How did the Nordics fast frequency market change in 2020?

However, the situation changed in 2020 when the introduction of a common Nordics Fast Frequency market removed entry barriers and specifically triggered participation of fast-responding assets like grid-scale energy storage, delivering fast and attractive returns to energy storage investors and project owners.

Is this Finland's largest battery energy storage system?

Swedish flexible assets developer and optimizer Ingrid Capacity has joined hands with SEB Nordic Energy's portfolio company Locus Energy to develop what is claimed to be Finland's largest and one of the Nordics' largest battery energy storage systems (BESS). The 70 MW/140 MWh BESS project will be located in Nivala, northern Finland.

Is energy storage a good investment in Germany?

In Germany, on the other hand, energy storage can yield attractive revenues from FCR, aFRR, and energy trading on the wholesale markets. In 2022, Germany joined the PICASSO platform, so storage assets participate in an overhauled automatic Frequency Restoration Reserve market.

When will the energy grid project start in Finland?

The project proponents have confirmed that the construction works will start in March 2025. The project, which is one of the largest of its kind in Finland, will provide grid services including frequency response and will be able to participate in energy trading on wholesale power markets.

Why is battery-based energy storage important in the Nordics?

The region is striving to become Europe's clean energy hub and is gaining leadership in the green transition of industry. Battery-based energy storage is a vital addition to the Nordics' energy system to integrate an even higher share of renewable energy from abundant wind and hydropower.

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