EXECUTIVE SUMMARY

Byhmgard AB, a Sweden-based developer and investor in utility-scale BESS projects, has entered binding agreements through a wholly owned project company to acquire the rights to Hitura, a 50 MW BESS project in Finland. Callio-Hitura Solarpark Oy, a wholly owned subsidiary of Solarigo Systems Oy, is the seller.

Hitura is a standalone ESS being developed by Solarigo. The project is slated to reach ready-to-build stage during 2026, and the commissioning by H2 2027. Under the agreements, Byhmgard will take over the project rights and assume responsibility for completing development work to ready-to-build status.

The transaction is the first acquisition under the framework agreement signed by Byhmgard and Solarigo on 11 May 2026. Byhmgard described it as part of the build-out of a European 1 GW BESS portfolio, with Finland and the Baltics identified as priority markets. The company also linked storage demand in the Nordics to a rising share of weather-dependent generation and the need for flexibility and ancillary services to the grid.

Byhmgard said that the completion and payment will occur in stages, subject to customary closing conditions that include the project reaching ready-to-build status. The company will also provide further information after the closing conditions have been satisfied and completion has taken place.

Marco Berggren, Chief Investment Officer at Byhmgard, said that the move from the letter of intent to binding agreements took just over a month and linked Hitura to one of the company's priority markets. Antti Koskelainen, CEO of Solarigo, said that the ESS is playing a growing role in balancing the Nordic electricity system and described the agreement as part of the companies' expanding cooperation.

Byhmgard develops, constructs and invests in utility-scale BESS projects in Europe, with activities covering project development, EPC, software optimization and long-term operations.