Helsinki, 25.6.2024 — Capalo AI, a sustainable growth company offering trading, optimization, and aggregation services for energy storage, has reached an agreement to trade and optimize the Mertaniemi 38.5MW/38MWh battery energy storage system (BESS) located in Lappeenranta, Finland. The Mertaniemi BESS project is developed by Ardian’s operating partner, eNordic, and the investors are Ardian Clean Energy Evergreen Fund and Lappeenrannan Energia. The battery is another large-scale asset traded on Capalo Zeus VPP, along with, for example, Taaleri Energia’s 30MW/36MWh BESS.

Capalo Zeus VPP optimizes and trades the 38.5MW battery in all Finnish ancillary markets (FFR, FCR- D, FCR-N, aFRR, mFRR) and Nord Pool wholesale markets (Spot, Intraday). The fully automatic and self-learning trading strategies, combined with all available revenue streams, ensure maximal lifetime value for the asset. AI-powered cross-market optimization is crucial in the volatile and fast-evolving Nordic markets.

The battery joins Capalo Zeus VPP along with other large-scale battery assets to balance the Nordic electricity grid. The VPP pool enables additional flexibility in trading and scheduling the batteries, enabling larger revenues for the asset owners.

The Mertaniemi BESS is one of the largest battery energy storage systems in Finland, with a nameplate capacity of 38.5MW/38MWh. The battery is a significant flexibility provider for the Finnish and Nordic grid, enabling the rapid commissioning of renewables.

“Battery energy storage systems are essential in enabling the clean energy transition and securing the resilience of the Finnish grid. With multiple markets and increased volatility, the optimization and trading of the battery becomes a key competitive advantage. We’re happy to partner with Capalo AI to maximize the profitability and impact of the 38MWh asset.” said Eero Auranne, Chairman of the board of eNordic Oy and the project company Mertaniemen sähkövarasto Oy.

“We’re delighted to partner to trade and optimize the Mertaniemi BESS—one of the largest in Finland. It’s essential to trade the asset in all markets with AI-powered algorithms to maximize its value in a rapidly evolving revenue landscape,” said Henri Taskinen, CEO of Capalo AI.

The developer of the BESS project is eNordic, Ardian’s operating partner in the Nordics. Ardian is one of the world’s largest private investment houses with over 160 USDbn assets under management and headquartered in Paris, France. The Mertaniemi BESS investors are Ardian Clean Energy Evergreen Fund (70%) and Lappeenrannan Energia (30%), the energy utility of the city of Lappeenranta.

Capalo AI is a sustainable tech company that maximizes the value of energy storage systems across all markets. We combine the most accurate forecast data with cutting-edge AI models to optimize the trading of battery energy storage systems.

For more information, contact:
Eero Auranne, Chairman of the Board, eNordic Oy, Tel. +358 40 425 2200

Henri Taskinen, CEO of Capalo AI, Tel. +358 44 036 9966
Riku Kukkonen, CSO of Capalo AI, Tel. +358 44 546 9012