Danske Bank facilitates funding for two of Sweden’s largest planned battery parks

Danske Bank, as lender, has entered into a facility agreement for the purpose of establishing and operating two of Sweden’s largest planned battery parks located in Brista and Skarpnäck outside of Stockholm, Sweden. The project reached financial close on 18 January 2024.

The battery parks will be operated jointly by Stockholm Exergi AB, an energy corporation, and Polar Capacity AB, a power operator. The battery parks are expected to deliver 50 MW of battery power to Svenska Kraftnät’s electrical system.

Battery parks act as a largescale power bank, helping balance electricity consumption and production variations. By storing excess renewable energy, it facilitates the integration of solar and wind power, contributing to the transition toward green and sustainable energy.

Danske Bank was represented by Mannheimer Swartling in the transaction.