Krogerus advises L&G NTR Clean Power Fund on its acquisition in a 50 MW electricity storage system in Finland

Krogerus advised L&G NTR Clean Power Fund on the acquisition of 50 MW ready-to-build electricity storage system located in Nivala, Northern Ostrobothnia, Finland. This milestone marks the Fund’s first battery energy storage project, reaffirming its commitment to invest in and develop diversified clean energy infrastructure. The project was acquired from OX2, one of Sweden’s largest renewable energy project developers operating in 11 European markets and Australia.

The project will have a minimum power rating of c. 50 MW, operating at a two-hour capacity (110MWh), which makes it one of the largest energy storages and first of its kind to be developed in Finland. The energy storage system will provide the Finnish grid system with valuable ancillary services to regulate frequency and ensure grid stability.

Krogerus team was led by Partner Sami Laine, and he was primarily assisted by Counsel Essi Launonen and Associates Janne Helaskoski and Teemu Huhtala.