Statkraft–OX2 7‑year PPA to optimise two Finnish BESS (110 MW/220 MWh and 125 MW/250 MWh)
- PPA covers two BESS: 110 MW (220 MWh) and 125 MW (250 MWh).
- Statkraft will optimise the batteries over a seven-year term starting in 2028 with an innovative revenue‑floor to support financing.
- Both batteries are co-located with OX2 wind projects Kannisto (Halsua) and Korkeamaa (Soini).
- This is Statkraft’s largest BESS PPA in the Nordics to date.
Deal overview
Statkraft and OX2 have closed an agreement for two large-scale battery energy storage systems (BESS) in Finland. Statkraft will provide optimisation services under a seven-year power purchase agreement, including a revenue floor arrangement to aid project financing.
Project details and timeline
The PPA covers two batteries currently under construction: one 110 MW (220 MWh) facility and one 125 MW (250 MWh) facility. Optimisation by Statkraft begins in 2028. Both batteries will be located at the same sites as OX2’s Kannisto wind project in Halsua municipality and Korkeamaa in Soini municipality.
Context
The agreement is cited as Statkraft’s largest BESS PPA in the Nordics to date and underlines the role of batteries in managing renewable intermittency and system flexibility. Statkraft has previously closed major BESS PPAs, including Thurrock Storage in the UK (300 MW/600 MWh with Statera Energy) and the Thorpe Marsh scheme (1.4 GW with Fidera Energy).
Source: Statkraft
