Merus Power's energy storage facility in Lappeenranta is now operational, enhancing Finland's grid stability with 38 MW output.
Quiver AI Summary
Merus Power has completed a significant energy storage facility in Lappeenranta, Finland, which began operations on May 15, 2025. This facility, a joint venture between Ardian’s Clean Energy Evergreen Fund and Lappeenrannan Energia, has a capacity of about 38 megawatts and can store 43 megawatt hours of energy, enough to power over 35,000 households for two hours. It plays a crucial role in stabilizing Finland's power grid by providing rapid response capabilities. This project marks Ardian’s first investment in battery energy storage in Finland and demonstrates a commitment to integrating renewable energy solutions in the region. Both companies see significant opportunities for future investments in energy storage as the demand for sustainable energy solutions grows, particularly given the expansion of wind power in Finland.
Potential Positives
- The completed energy storage facility represents Merus Power's largest project to date, highlighting its capability in delivering significant energy solutions.
- The facility's 38 megawatt output positions it as one of the largest energy storage facilities in Finland, which could enhance Merus Power's reputation and market presence in the renewable energy sector.
- The project demonstrates Merus Power's expertise in managing the entire value chain of energy storage, from development to market implementation, which may attract future partnerships and projects.
Potential Negatives
- Merus Power's press release emphasizes the completion of its largest energy storage facility, but does not disclose any financial implications or revenues generated from the project, potentially raising concerns about the project's profitability.
- The involvement of a joint venture indicates that Merus Power may not have complete control over the facility or its management, which could limit the company's operational flexibility and growth potential in the energy storage market.
- While the press release highlights the project as a milestone, it lacks specific details on future projects or strategic direction, leaving investors uncertain about the company's growth trajectory and competitive positioning in the energy sector.
FAQ
What is the capacity of the new energy storage facility in Lappeenranta?
The energy storage facility has an output of approximately 38 megawatts and a storage capacity of 43 megawatt hours.
Who owns the energy storage facility in Lappeenranta?
The facility is owned by a joint venture between Ardian’s Clean Energy Evergreen Fund and Lappeenrannan Energia.
Why is this energy storage facility significant for Merus Power?
This is Merus Power's largest manufactured energy storage facility, marking a key milestone for the company.
How does the energy storage facility contribute to grid stability?
It provides flexibility and can respond to grid needs in fractions of a second, maintaining power grid stability.
What goals does Ardian have for energy storage in the Nordics?
Ardian aims to invest in battery storage technology to support renewable energy and create a sustainable energy system.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
TAMPERE, Finland, July 03, 2025 (GLOBE NEWSWIRE) -- The energy storage facility delivered by Merus Power to Lappeenranta, Finland, has been completed and put into market use on 15 May 2025. The energy storage facility is owned by a joint venture between Ardian’s Clean Energy Evergreen Fund and the local energy provider Lappeenrannan Energia. It is one of the largest energy storage facilities in use on the Finnish electricity market with an output of approximately 38 megawatts and energy of 43 megawatt hours. The completion of the project is significant for Merus Power, as it is the largest energy storage facility manufactured by the company.
“Merus Power operates as an EPC operator, offering its customers comprehensive solutions on a turnkey basis. In this project, the delivery included an energy storage system with installation and commissioning, as well as the management of network requirements. We manage the entire value chain from development to construction, from testing to market. In addition to technical know-how, energy storage facilities require also an understanding of the market and regulation – and this is where our strengths come at play. We have manufactured and put into market use numerous electricity storage facilities,” says Kari Tuomala , CEO of Merus Power.
Power like in a small power plant
The output of 38 megawatts corresponds to the production capacity of a small power plant, and the nominal capacity of 43 megawatt hours would be enough to cover the electricity consumption of more than 35,000 households, i.e. households about the size of Lappeenranta, for two hours. One of the most important features of an energy storage facility is its ability to respond to the needs of the grid in fractions of a second. It is precisely this kind of flexibility that is crucial for maintaining the stability of Finland's power grid.
The energy storage facility is in the Mertaniemi area of Lappeenranta and operates as part of the regional energy structure. The investment project was developed by Ardian Clean Energy Evergreen Fund’s Finnish investment platform eNordic in cooperation with Lappeenrannan Energia.
Benjamin Kennedy , Managing Director Infrastructure - Renewables, Ardian, said: “The completion of Mertaniemi is a major milestone for us, representing the Ardian Clean Energy Fund’s first investment in battery energy storage in Finland. As the country’s wind power capacity continues to grow, the demand for storage solutions has only increased, making this asset critical to maintaining the stability of the grid and providing greater reliability. We are proud to have brought this solution online within 18 months, and we see significant opportunity to invest in battery storage in the Nordics, where we plan to continue building out our platform.”
Towards a smarter and cleaner electricity system
Energy storage facilities are a critical part of the green transition energy system. They provide flexibility in situations where renewable energy production fluctuates and enable electricity to be stored when it is available in abundance and at a low cost.
“This is the first energy storage investment for Ardian. It is an important step in the implementation of our strategy in Finland and more broadly in the Nordic countries. We see significant investment opportunities in combining renewable energy generation and battery electricity storage technology to build a more stable and sustainable energy system. Ardian's and eNordic's strong position in the Nordic countries and their experience in the long-term development of renewable energy create excellent conditions to drive the energy transition,” says Eero Auranne, CEO, eNordic Oy.
More information:
Kari Tuomala, CEO,
[email protected]
, +358 20 735 4320
Jonna Kannosto, Director, Communications & IR,
[email protected]
, +358 44 357 8320
Merus Power in brief:
Merus Power is a technology company driving the sustainable energy transition. We design and produce innovative electrical engineering solutions such as energy storages and power quality solutions, and services for the needs of renewable energy and industry. Through our scalable technology, we facilitate the growth of renewable energy in the electricity grids and improve the energy efficiency of society. We are a domestic specialist in innovative electrical engineering and operate in global and high-growth markets. Our personnel represent internationally renowned engineering expertise. Our net sales in 2024 were EUR 35.8 million and our stock’s trading symbol on the Nasdaq First North Growth Market Finland is MERUS.
www.meruspower.com
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ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $177bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.
ABOUT ENORDIC
eNordic is the Nordic’s sustainable energy platform, formed by a partnership between Ardian, and leading domestic industry executives. Through a local, responsible and agile investment approach, eNordic enables the transformation of the energy sector through long-term partnerships with those that develop or operate sustainable energy projects in the Nordics.
It invests in opportunities in wind, biomass, hydro and district heating, in addition to traditional energy assets that have the potential to be transformed or managed in a particularly sustainable way. eNordic is based in Sweden and Finland, with local teams operating throughout the Nordics region.
enordic.fi
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c695e698-8809-4e24-b510-25b3c485a64d