The new partnership represents the second largest battery investment in the Nordics and is a key step in strengthening Sweden’s energy system and advancing the electrification of Swedish society. It will improve the current problematic power deficit situation in 13 southern Swedish communities as the battery systems come online in local grids.
The projects, ranging between 8-20 MW, have been strategically located to maximise their value to the grid both immediately and over the long term. They will help to maintain the frequency and stability of the Nordic energy grid as more intermittent energy sources are integrated into the energy mix, by providing ancillary services and load shifting. Over time, the plan is also to support local energy grid companies (DSOs) and industries in places where the batteries are deployed to meet their peak power demands.
“This partnership and to bring batteries as new asset class into the fund, is a logical step to meet the increasing price volatility and grid instability, but also ultimately to fulfil the objectives of strengthening local energy systems in Nordic communities, which is the ultimate objective of the fund” said Richard Gavel, Portfolio Manager, SEB Nordic Energy.
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