Mirova invests in Nordic battery storage developed by Ingrid Capacity
Mirova has announced an equity investment of EUR 65 million in two battery energy storage systems (BESS), developed by Ingrid Capacity. The projects are the first in the Nordic Storage Platform (NSP), established to develop, build and operate utility-scale battery energy storage assets across the Nordic region.
NSP’s portfolio comprises two utility-scale projects:
- Pedersöre, Finland: a 45 MW / 90 MWh battery storage project that is ready to build. The project represents Mirova’s first energy transition infrastructure investment in Finland.
- Vaggeryd, Sweden: a 100 MW / 200 MWh battery storage project located in the SE3 electricity price area, expected to reach ready-to-build status in 2027.
Ingrid Capacity will develop, operate and optimise the two projects, combining its expertise in battery storage with Mirova’s experience in financing energy transition infrastructure. Together, the two companies aim to support the deployment of storage capacity that can contribute to more resilient and flexible power systems in the Nordics.
Mannheimer Swartling advised Mirova in the transaction. The firm’s team consisted primarily of Per Åsbrink, Emma Olnäs Fors, Daniel Holmdahl and Ludvig Forfang Righard, supported by colleagues from Construction, Real Estate and Environment.
