1. RPC is entering the Finnish battery energy storage system market for the first time, aiming for completion by the end of 2025.
2. Finland and the wider Nordic region are experiencing a surge in large-scale BESS projects, with a shift towards longer durations in the Finnish market to capture ancillary service revenues.
3. RPC is also active in the UK BESS market, with construction beginning soon on its first project and partnerships in place targeting a portfolio of over 1.5GW in Europe’s leading market.
Renewable Power Capital (RPC) has entered the Finnish battery energy storage system (BESS) market with plans to provide various services to Finland’s electricity network for the next 30 years. This project, expected to be completed by the end of 2025, will include frequency regulation and energy trading in wholesale markets. RPC, backed by CPP Investments, has been active in the Nordic country’s renewables market with investments in offshore wind.
The project is part of a trend of large-scale BESS projects in Finland and the wider Nordic region, with Sweden also becoming a growing market for such initiatives. The Yllikkälä Power Reserve Two (YPR2) project by French developer Neoen is set to be the largest BESS project in Finland and the Nordics to date, with a capacity of 56.4MW/112.9MWh.
The Finnish market is shifting towards longer duration BESS projects, driven by new regulations and a growing emphasis on arbitrage in wholesale markets. Frequency control ancillary services prices in Finland are currently high, making energy storage essential for grid stability amidst increasing variable renewable energy generation. RPC has also acquired a BESS project in the UK and is partnering with other developers to build a portfolio of over 1.5GW in Europe. This highlights the growing importance of energy storage in supporting renewable energy deployment and grid stability in various markets.