Press Releases

RPC and ib vogt announce storage deal in bid to bring grid stability and support renewables buildout in Finland

  • Renewable Power Capital has reached a deal with renewables developer ib vogt for a 50MW / 50MWh storage site in Southern Finland.
  • Project construction will begin in Q1/Q2 2024, with completion expected by Q4 2025.
  • This will be RPC’s first storage asset in Finland, a sector with significant investment potential.

London 12 March 0800 GMT

Renewable Power Capital can today announce a deal with international renewable development platform ib vogt for a 50MW/50MWh ready-to-build battery storage project in the Southern Finnish region of Uusikaupunki.

RPC will run the procurement and construction processes for the project, beginning in the first 6 months of this year. The project is expected to be completed in Q4 2025 and will be funded on a fully merchant basis, bidding into ancillary services and wholesale power markets.

Following its launch in 2020, RPC has built and now operates over 170MW of Finnish onshore wind across three sites, amongst its wider 680MW+ operational and under construction Nordic portfolio. The storage deal marks the first of its kind in Finland for RPC, though the owner-operator investor sees the Finnish storage market as a key pillar for growth in the coming years.

Steve Hunter, Managing Director of Power Markets and Asset Management at RPC said: “Finland has a real need for battery storage at the moment, and this deal can play a significant role in providing the grid stabilisation required to support further renewables build-out. RPC is excited to add to its wind portfolio with this storage project, which is a real milestone for RPC in the Finnish market.”

Anton Milner, CEO of ib vogt said: “We want to thank the experts at Renewable Power Capital for working with ib vogt to establish a path forward in Finland. With a shared goal for clean energy, this storage project marks a real milestone to allow more renewable capacity to be integrated into the system.”

Notes to editors

Renewable Power Capital is a London-headquartered pan-European renewables company established in 2020, with the backing of CPP Investments.

RPC invests in the development, construction, and long-term operation of onshore wind and solar projects, enabling the energy transition and driving stable long-term, risk-adjusted returns. RPC’s flexible mandate allows it to structure investments which recognise the changing market dynamics in Europe and create innovative solutions to build relationships designed for decades rather than months.

RPC is led by a seasoned and established team of energy industry professionals with deep renewable power, technical, and operational expertise, and a strong common purpose. RPC aims to pioneer the European renewables sector, accelerating the already-rapid growth and playing a key role in making the energy transition a reality.

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