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Glennmont enters storage market with 30MW Finnish battery project

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Leading clean energy investment fund manager, Glennmont Partners from Nuveen (“Glennmont”), have announced they will develop a 30MW battery storage project in Finland with Ilmatar, a Nordic energy company and independent power producer focusing exclusively to renewable energy, and Alfen, an energy solutions specialist based in the Netherlands.

Construction on the project began in May 2023, with commercial operation slated for January 2024. The project will utilise Alfen’s top of the line The Battery Elements battery storage system built in a modular design, and capable of storing 41MWh of energy.

The project is based in the Pyhäntä region of Central Finland and will be sited adjacent to Glennmont’s 211MW Piiparinmäki onshore wind farm. The selection of the location of the site results from Glennmont and Ilmatar’s close working relationship, with Ilmatar developing and working as technical and commercial management agent for the Piiparinmäki wind farm.

The construction of this site marks Glennmont’s entry into the electricity reserve market, following a succession of recent acquisitions in the Italian solar and Swedish wind markets in 2023.

Francesco Cacciabue, Partner at Glennmont said of the deal:

“We’re delighted to be working with Ilmatar and Alfen in the construction of this landmark battery storage facility in Finland.

“Battery technology will play an increasingly vital role in both Finland and the wider world’s energy mix in the years to come, mitigating intermittency issues and ensuring we gain maximum benefit from established renewables technologies.

Siting the project next to our existing Piiparinmäki wind farm allows us to take full advantage of the fruitful relationship between the two technologies benefits, ensuring maximum opportunity for our investors.”

Juha-Pekka Weckström, CEO, Ilmatar comments:

“It’s brilliant to work with Glennmont and Alfen in the development of this new storage asset, continuing a relationship that has gone from strength to strength in the past.

“Battery storage technologies are at a stage where they can play a significant role in complementing traditional renewables in a nation’s power mix, and the deployment of a modular design places this project at the forefront of its rollout globally.”

Michelle Lesh, Chief Commercial Officer at Alfen comments:

“We’re excited to work with Glennmont and Ilmatar as they support Finland’s goal to become carbon neutral by 2035. Energy storage is a critical enabler to meeting this goal, and Alfen’s battery storage technology such as TheBattery Elements continues to evolve to better stabilize electricity grids and integrate renewable projects.  It will play a vital role in Europe’s transition to mitigate climate change and enable a more sustainable energy future.”

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