The new partnership will enable the construction of 13 new large-scale battery energy storage systems across southern Sweden, adding an additional 196 MW of flexible capacity to the national grid in price areas SE3 and SE4. Within 12 months, the problematic power deficit situation in 13 communities in southern Sweden will be significantly improved as the battery storage systems come online in the local grids.

This will be the second largest battery investment in the Nordics, and a key step to strengthening Sweden’s energy system and advancing the electrification of society. 

Energy storage plays a crucial role in the green transition by accelerating the integration of renewable energy – storing excess energy during periods of surplus production and redistributing it when wind and solar generation is low. 

The systems will help 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, through bilateral agreements, to meet their peak power demands.

“The partnership with Ingrid Capacity will help accelerate the critical energy transition by adding much-needed flexibility to the Nordic energy system, and simultaneously create synergies with our existing production portfolio of wind- and hydropower located in the same price areas of SE3 and SE4. We have awaited this investment opportunity to get to a point where the cost of building battery storage systems has come down coupled with more realistic long-term pricing of flexibility services in the Swedish market. We’re excited to get started and together with Ingrid bring the systems online within the next 12 months”, says Mattias Söderqvist, Partner at Locus Energy.

“I am impressed by the Locus team, whose combination of long-term active ownership and deep expertise in energy systems makes them an ideal partner to help us achieve a shared vision of advancing the local energy transition. Partnering with Locus Energy is an excellent fit and underscores our position as the Nordic leader in battery energy storage and optimization, with a total portfolio exceeding 400 MW under management”, says Axel Holmberg, CEO of Ingrid Capacity.

“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”, says Richard Gavel, Portfolio Manager, SEB Nordic Energy.