Press releases

United Bankers’ UB Renewable Energy Fund invests in electricity storage

On 15 October 2024, UB Renewable Energy Fund (AIF) has acquired from the Swiss-Finnish AmpTank Finland Oy a significant majority stake in a project company that will build and operate a 30 MW battery energy storage system (BESS) to be located at Fingrid’s Kellarijanka substation in Kemijarvi.

By

UB Renewable Energy Fund

Oct 17, 2024

Press releases

ESS press release place holder

The system can be charged or discharged for two hours for a total capacity of 60 MWh. The BESS will primarily participate in the reserve market.

The technology procurement for the project is still being tendered, but the investment is estimated to be around EUR 20 million. Construction will start in spring 2025, with commercial operations date of the BESS in late 2025.

AmpTank Finland Oy was established in 2021 by experienced energy trading professionals with the purpose of developing energy storages in the Nordic region. AmpTank has become one of the leading developers in the area with several projects either under construction or being ready to build. AmpTank team is delighted to start the co-operation and long-term strategic partnership with United Bankers.

Written by

UB Renewable Energy Fund

View author posts

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Comments Cancel reply

Grid-scale

‘Indian battery energy storage set for unprecedented growth’ A transformative shift in India’s energy landscape will take place by 2029, positioning the country as a global leader in energy storage innovation, according to Saurabh Kumar, vice president for India at the Global Energy Alliance for People and Planet (GEAPP) nonprofit.

Oct 03, 2024

Darling downs power station

Grid-scale

Origin Energy unveils plans for 2 GWh battery in Australia Australian energy giant Origin Energy has revealed plans to build what could be the biggest battery energy storage system (BESS) in the state of Queensland, as it continues the expansion of its renewable energy generation and storage portfolio.

May 21, 2024

Silver City

Flow batteries

Long-duration storage key for Australia’s energy security, report finds Australia's Clean Energy Council has launched a new report, exploring emerging long duration energy storage technologies capable of firming renewables in the wake of coal-fired power generation closures.

Jun 05, 2024

Containers of battery energy storage solution

Finance

Arizona’s largest energy storage project closes $513 million in financing In the USA, the 1,200 MWh Papago Storage project will dispatch enough power to serve 244,000 homes for four hours a day with the e-Storage SolBank high-cycle lithium-ferro-phosphate battery energy storage solution. Recurrent Energy, a subsidiary of Canadian Solar Inc. has secured $513 million in project financing for its Papago Storage project located in Maricopa County, Arizona.

Jun 21, 2024

Opinion & Analysis

Tesla continues scaling up energy storage business in China The announcement of Tesla's battery factory in Shanghai marked the company's entry into the Chinese market. Amy Zhang, analyst at InfoLink Consulting, looks at what this move could bring for the US battery storage maker and the broader Chinese market.

Jul 25, 2024

Tenders

India’s battery storage capacity hits 219.1 MWh India’s installed battery storage capacity reached 219.1 MWh at the end of March 2024. A recent Mercom report predicts that the nation will add 1.6 GWh of standalone battery storage and 9.7 GW of renewable projects with storage by 2027.

Jul 10, 2024

This website uses cookies to anonymously count visitor numbers. View our privacy policy.