Global renewable energy investment platform Nala Renewables has issued a Notice to Proceed (NTP) to kick off construction of its 125 MW / 250 MWh Nala Vuolijoki battery energy storage system (BESS) in Finland. The NTP formally moves the asset from development into construction, with the project recognised as one of Finland’s largest battery storage developments to break ground.
Nala acquired the ready-to-build standalone Vuolijoki BESS from Swiss developer Fu-Gen in February 2026. The asset joins two other Finnish storage projects under the company’s portfolio: the recently energised 50 MW / 100 MWh Kauhava BESS, plus the 100 MW / 200 MWh Kärppiö BESS purchased from Fu-Gen in September 2026. Combined, the three assets bring Nala’s total Finnish BESS pipeline to 275 MW / 550 MWh. Nala Renewables will retain ownership and lead development of the Vuolijoki facility.
Finnish engineering firm Despro has been appointed EPCM contractor and will deliver local engineering support. Destia Oy takes on the balance-of-plant (BOP) scope, while Sungrow will supply the full battery energy storage technology for the site.
Remy Verot, interim CEO of Nala Renewables, commented: “By combining in-house capabilities across development, financing, construction and operations together with close collaboration with our partners, we are well equipped to tackle the evolving challenges of the energy transition. We will deliver high-quality assets that boost grid resilience and accelerate renewable power growth in Finland and our other target markets.”
Long-term project financing has been secured from Rabobank. Gijs Hofman, executive director at Rabobank, said the bank is pleased to back the Vuolijoki battery scheme. He noted the deal deepens the existing partnership with Nala Renewables and its owner IFM Investors, a core institutional client of Rabobank.
Finland’s frequency reserve markets are undergoing structural change. Fingrid’s annual auction prices for upward and downward frequency containment reserves declined for 2026, as the national grid operator shifts more procurement towards hourly markets. This market evolution makes Vuolijoki’s revenue stack and trading strategy a key point of attention as construction progresses.
Elsewhere in the Nordic battery storage sector, Swedish energy infrastructure firm Ingrid Capacity secured €65 million from investor Mirova for two BESS assets across Sweden and Finland. The 45 MW / 90 MWh Pedersöre BESS in Finland will be developed, operated and optimised by Ingrid Capacity under a strategic partnership.
