February 27, 2026: Norwegian renewable energy company Statkraft has signed a seven-year deal with Swedish renewables developer OX2 for battery storage projects in Finland.

Statkraft said on February 25 the 235MW agreement is its largest BESS power purchase agreement in the Nordics to date.

The deal covers two BESS facilities with capacities of 110 MW (220 MWh) and 125 MW (250 MWh) respectively. Both projects are under construction although details of the battery chemistry to be deployed were not disclosed.

Statkraft will optimise the batteries over a seven-year term, starting in 2028, and support financing of the facilities at the same site as OX2’s wind projects Kannisto in Halsua and Korkeamaa in Soini.

Heikki Herttuainen, senior originator for Statkraft Finland, said: “This agreement underlines the growing role of battery storage in Finland’s energy market.

“As wind power expands, batteries are essential to managing intermittency and unlocking flexibility for the system. Optimizing these assets locally allows us to support grid stability while creating value for both the developer and the Finnish power market.”