Capalo AI partners with Innovestor to trade and optimize a total of 15MW/60MWh of behind-the-meter energy storage
Helsinki, 10.10.2024 — Capalo AI partners with Finnish investment manager Innovestor for an energy storage initiative designed to smooth out fluctuations in clean energy production and enhance energy system resilience. The initiative focuses on decentralized energy storage systems installed directly in commercial properties, improving energy grid efficiency, supporting flexible energy consumption, and accelerating the transition to clean energy sources.
In the initiative’s first phase, Innovestor will install local battery systems across 30 commercial properties. These energy storage units deliver 15 MW of power and a total energy capacity of 60 MWh. They will be integrated into the Capalo Zeus Virtual Power Plant (VPP) to participate in all Finnish ancillary and wholesale markets to balance the Nordic grid.
By pooling these assets in a virtual power plant, Capalo AI increases trading flexibility, scheduling efficiency, and the revenue the assets generate from the markets. Capalo AI will aggregate, trade, and optimize the distributed batteries across every ancillary and wholesale market in Finland to maximize the assets’ benefit for the electricity system. All battery systems will be co-located with both production and consumption, adding optimization complexity and earning opportunities.
Innovestor’s energy storage initiative, which focuses on “behind-the-meter” solutions, is estimated to cut carbon dioxide emissions by over 900 tons annually by reducing reliance on non-renewable energy sources through solar energy stored in the batteries. Finland’s Ministry of Economic Affairs and Employment has granted the project €3.6 million in REPowerEU support, aimed at accelerating the green transition.
“Storing energy directly in properties during periods of overproduction or low demand enables efficient use during high electricity price peaks. This not only alleviates grid stress during peak consumption but also enhances system resilience and supports local energy generation. Local energy storage reduces dependence on power plants, transmission infrastructure, and non-renewable energy sources, offering significant benefits to consumers, property owners, and the environment,” says Elie Kopaly, the Investment Director for the energy storage segment at Innovestor.
“Behind-the-meter energy storage systems will be increasingly important for the resilience of the Finnish grid. Innovestor is leading the way with its 15MW/60MWh initiative. We’re proud to partner with them to maximize the value of these batteries across every ancillary and wholesale market and pave the way for a decarbonized grid,” says Henri Taskinen, CEO of Capalo AI.
Innovestor is a Finnish investment manager focusing on venture capital, real estate, and energy storage. In addition, we offer corporate venturing services. The firm currently manages six VC funds with a total capital of over €250 million. Consisting of over 100 growth companies across multiple sectors of technology and life science & health, it represents one of the largest private venture-backed portfolios in the Nordics. Our mission is to make Good Money.
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.
