Statkraft and OX2 sign 235MW BESS PPA

Statkraft and OX2's agreement for a seven-year power purchase agreement (PPA) covering two battery energy storage systems (BESS) totaling 235MW in Finland represents a significant development in the Nordic energy market. The deal involves Statkraft, a company with experience in renewable energy PPAs, acting as the offtaker for projects developed by OX2, a prominent renewable energy developer with expertise across various technologies, including energy storage. The structure includes a revenue floor, suggesting a risk-sharing approach between the parties. Statkraft will optimize the facilities from 2028, indicating a long-term commitment to the project's performance. This PPA underscores the growing importance of battery storage in supporting renewable energy integration and grid stability. The 235MW capacity is notable, reflecting a substantial investment in BESS infrastructure in Finland. The involvement of established players like Statkraft and OX2 lends credibility to the project and signals confidence in the viability of battery storage as a key component of the energy transition. The deal's structure, incorporating a revenue floor, suggests a sophisticated approach to managing market risks associated with energy storage assets.