EXECUTIVE SUMMARY
A 100 MW/400 MWh battery energy storage project in Nivala, Finland, has been acquired by Foresight Energy Infrastructure Partners II from Fotowatio Renewable Ventures. The fully permitted, ready-to-build facility will provide four-hour storage and participate in Finland’s electricity markets, with commercial operations expected in the second half of 2028.
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Foresight Group has announced that Foresight Energy Infrastructure Partners II SCSp (FEIP II) has completed the acquisition of a 100% interest in the Nivala battery energy storage system (BESS) project from Fotowatio Renewable Ventures (FRV). Located in the city of Nivala, North Ostrobothnia, Finland, the 100 MW/400 MWh facility is described as Finland's largest BESS project. The fully permitted, ready-to-build development represents a further investment in Finland's expanding energy storage sector.
The acquisition marks Foresight's second investment in Finland, following its acquisition of the 88 MW Puskakorpi project in 2021 through Foresight Energy Infrastructure Partners I (FEIP I). The latest transaction strengthens FEIP II's exposure to energy storage and grid flexibility infrastructure. Foresight will continue developing Nivala, with commercial operations expected to commence in the second half of 2028.
Designed with a four-hour storage duration, the Nivala BESS will participate in Finland's wholesale, intraday and ancillary services markets. These markets represent important revenue opportunities for battery storage operators in Finland. The project is also intended to support renewable electricity integration, improve grid flexibility and contribute to the decarbonisation of the Finnish electricity system.
Finland has become an attractive Nordic market for battery energy storage investment, supported by rapid renewable energy development, particularly onshore wind. Growing electricity demand from industrial facilities and data centres is also increasing the need for flexible power infrastructure. The announcement highlights Google's recently announced €13 billion investment in Finnish data centres as an additional demand-side driver for electricity infrastructure development.
Richard Thompson, Partner and Co-Manager of FEIP and FEIP II at Foresight Group, highlighted the increasing importance of electricity system security, reliability and resilience as electrification expands. He noted that grid-scale battery storage can support renewable integration and grid stability while addressing growing demand from data centres and industrial activity.
Javier Huergo, Chief Investment Officer of FRV, described the transaction as part of the company's asset rotation strategy. The sale allows FRV to realise value generated during the project's development stages and reinvest resources into new opportunities supporting its international BESS portfolio.
Following the acquisition, Foresight will advance Nivala toward commercial operation. Its European BESS portfolio currently comprises around 550 MW of operational capacity. The transaction expands the company's involvement in Finland's energy storage market while supporting the development of infrastructure designed to provide electricity system flexibility.