Etha is pleased to have acted as a sell-side transaction advisor for Pyhäsalmi BESS (Battery Energy Storage System) project, including transaction management services and legal support in respect of the negotiations. Etha further supported the transaction by advising on permitting matters and providing technical and project development expertise.
The project is located in Pyhäjärvi, adjacent to the closed Pyhäsalmi mine. The energy storage facility has a capacity of 85 MW and an energy storage capacity of 170 MWh. The facility will contribute to balancing the grid and enhancing system flexibility.
Sustainable Energy Solutions Sweden Holding AB (SENS) and Dovre Group Plc (Dovre) have signed agreement on selling the Pyhäsalmi BESS Oy to a Frankfurt-based infrastructure investor with approximately EUR 2 billion in assets under management and a strong track record in the Nordic energy sector. Closing will take place during Q1 2026 subject to the fulfilment of certain conditions precedent.
“This transaction is a great example of how mature, well-structured energy storage projects in Finland are now attracting high-quality international capital. BESS will be a cornerstone of a resilient, renewable power system and Pyhäsalmi BESS is setting the benchmark.”, states Arnaud Defrance, Head of Transactions at Etha.
BESS enable the energy transition, bridging the gap between electricity production and demand by storing excess energy when production is high and releasing it when demand rises. BESS stabilise the grid, reduce reliance on fossil fuels and enhance energy security. We at Etha are proud to have contributed to the progress of the Pyhäsalmi BESS project.