The Pyhäsalmi Battery Energy Storage System (BESS) project in Finland has reached a significant milestone with its successful sale completed on 10 March 2026. Sustainable Energy Solutions Sweden Holding AB (SENS) and Dovre Group Plc (Dovre) acted as sellers of the project company in a transaction valued at approximately EUR 5.5 million. Alongside the initial purchase price, a profit-sharing arrangement is in place until July 2027, provided the project is completed before that date. The share purchase agreement was signed between the parties in January 2026. The transaction was subject to customary conditions, which have now been fulfilled.
Etha is pleased to have acted as the sell-side transaction advisor in Pyhäsalmi BESS project, including transaction management services and legal support in respect of the negotiations. Etha further supported the transaction by advising on permitting, providing technical and project development expertise, and working actively with stakeholders.
The project, located in Pyhäjärvi, is designed to deliver capacity to both the frequency regulation and arbitrage markets in Finland. With a storage capacity of 85 MW / 170 MWh, the facility will contribute to increased flexibility and stability in the Finnish power system.
“The successful transaction reflects the increasing maturity of the Finnish energy storage market. Projects like Pyhäsalmi BESS are becoming an important part of the energy transition by supporting system flexibility and enabling further renewable integration. We are proud to have supported the development of this project and to contribute to the advancement of battery energy storage systems in Finland, and we thank all partners and teams involved for the excellent collaboration that made this milestone possible”, states Gergő Göcsei, Transaction Manager at Etha.
BESS enables the energy transition, bridging the gap between electricity production and demand. BESS stabilize 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.