Statkraft signs largest Nordic battery storage PPA with OX2 for two BESS projects in Finland
Type: Ppa · Technology: Storage · Country: Finland · Capacity: 235 MW · Announced: 2026-03-09
Statkraft signed the largest Nordic battery storage PPA with OX2 for 235 MW across two Finnish BESS projects. This PPA enables Statkraft to optimize its Nordic renewable portfolio.
Analysis
Statkraft has secured the largest Nordic battery storage PPA to date, contracting 235 MW of capacity from OX2 across two Finnish BESS projects. This PPA, announced on 2026-03-09, directly enables Statkraft to optimize its Nordic renewable portfolio. The agreement covers projects in Halsua and Soini, Finland, both currently in the construction stage. While the deal value remains undisclosed, this PPA provides OX2 with revenue certainty for its substantial battery storage developments. Statkraft's 235 MW commitment addresses the need for grid flexibility and efficient energy management within its regional operations. For Statkraft, this 235 MW storage PPA diversifies its verified activity, which previously included an onshore wind Virtual Power Purchase Agreement in Germany where it acted as developer with Syngenta. This deal confirms Statkraft's focus on technology and portfolio optimization, moving beyond purely development roles. OX2, as the developer, validates its strategy across the entire value chain, from project acquisition to greenfield development, specifically within energy storage. This 235 MW PPA for Finnish BESS projects concretely realizes OX2's stated focus on onshore wind, offshore wind, solar power, and energy storage projects. The transaction also establishes a new commercial benchmark for utility-scale battery storage PPAs within the Nordic market.
Key points
- Largest Nordic battery storage PPA signed to date.
- 235 MW capacity across two Finnish BESS projects.
- Statkraft acts as offtaker, OX2 as developer.
- Projects located in Halsua and Soini, Finland, are in construction stage.
- PPA announced on 2026-03-09.