SEB Nordic Energy Fund through Locus Energy and in partnership with Ingrid Capacity celebrates the operational comissioning of a new battery energy storage system (BESS) in Rättvik, bidding zone SE3. The facility, with a capacity of 12 MW / 12 MWh, marks a strategic step in the build-out of a portfolio of twelve storage assets across Swedish bidding zones SE3 and SE4. All units are planned to be in operation by the end of 2026.
The Rättvik asset is part of Locus Energy’s long-term strategy to establish a pan-Nordic Independent Power Producer (IPP) with a diversified portfolio of renewable energy assets. By combining small-scale hydropower, the repowering of wind assets and battery storage systems, the company aims to create not only a robust energy system that strengthens flexibility and stability in the market, but also a so-called system premium, where the combined portfolio generates greater value than the sum of its individual parts.
During 2025, Locus Energy has taken significant steps in its Nordic expansion. Earlier this year, a groundbreaking ceremony was held for a 70 MW/140 MWh battery energy storage project in Finland, and recently the company acquired three stand-alone hydropower assets in Norway. Together with investments in Sweden, these transactions demonstrate the company’s ability to execute on its strategy and establish a portfolio spanning the Nordic region.
– Integrating batteries into the portfolio is a key operational step in building the system efficiency we are targeting. We see that the combination of renewable generation and storage creates a portfolio with higher flexibility, resilience and greater commercial potential, where the assets can be cross-optimized and become more valuable as part of the whole, says Mattias Söderquist, deputy-CEO and Partner at Locus Energy.
– Investments in energy storage strengthen SEB Nordic Energy fund’s exposure to the energy markets of the future. By building a diversified portfolio of renewable production and storage, we create long-term cash flows and an attractive risk-adjusted return profile for our investors, while simultaneously contributing to the energy transition in the Nordic region, says Richard Gavel, Head of Real Estate & Infrastructure Funds at SEB Nordic Energy.
– I welcome Ingrid Capacity’s and Locus Energy’s establishment here in Rättvik. The energy storage facility is an important step towards increased flexibility in the grid and enables more efficient use of renewable energy. By strengthening local electricity supply, this investment contributes to the fossil-free transition – fully aligned with the municipality’s ambition to reduce its climate impact, says Ulrica Momqvist, Chair of the Municipal Executive Committee in Rättvik.
– With the Rättvik Project, we’re demonstrating what the power grid of the future requires – smart batteries that make a real difference here and now. Our proprietary AI-powered trading platform adds the intelligence that makes the grid smarter and more efficient. This creates stability and value not only here in Rättvik, but also in many other places across the Nordics, says Nicklas Bäcker, co-founder and Chief Strategy Officer at Ingrid Capacity.
