Finnish investment manager Innovestor has initiated a €20 million energy storage project focusing on decentralized systems installed in commercial properties across Finland. This effort aims to address fluctuations in clean energy production by utilizing “behind-the-meter” battery systems, which store solar energy on-site. The initiative is expected to reduce reliance on non-renewable energy, cutting carbon emissions by over 900 tons annually. Supported by €3.6 million in REPowerEU funding, the project marks a key development in Finland’s push towards a more resilient and flexible energy system, with installations set to begin later this year.
Innovestor specializes in venture capital, real estate, and energy storage. The company manages six VC funds with over €250 million in total capital, investing in more than 100 growth-stage companies across technology, life sciences, and health sectors. Innovestor also provides corporate venturing services, supporting businesses in scaling and innovation. With a focus on fostering sustainable investments, the firm actively engages in projects aimed at accelerating the green transition, such as its energy storage initiative for decentralized clean energy solutions.
In the initiative’s first phase, Innovestor invests over €20 million to install local battery systems for solar energy storage across 30 commercial properties. This marks the first investment of its kind in Finland, specifically focusing on decentralized energy storage within commercial buildings.
The energy storage initiative centers on local “behind-the-meter” solutions, referring to decentralized energy production and storage located near the point of consumption – such as battery systems installed directly in buildings. The initiative 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.
“Existing infrastructure and properties present significant opportunities for energy storage, contributing to a more balanced energy system and accelerating the transition to clean energy. At Innovestor, we’ve been closely tracking the energy market’s evolution. Our expertise in technology and real estate investments uniquely equips us to harness energy storage opportunities,” says Wilhelm Lindholm, CEO of Innovestor, and continues: “As a high-tech nation, Finland has the potential to become a leader in the energy storage sector. Local energy storage and decentralized energy production represent promising growth opportunities, making them an attractive investment area for both local and international investors in the energy sector.”
“Innovestor’s pioneering energy storage initiative is set to build Finland’s first decentralized ‘behind-the-meter’ solar power and battery storage system. I’m pleased that with the REPowerEU support by the Ministry of Economic Affairs and Employment, we can accelerate this investment, advancing the transition to clean energy while helping to stabilize electricity prices,” says Kai Mykkänen, Minister of the Environment and Climate Change of Finland.
Innovestor’s energy storage initiative integrates battery systems at clean energy production sites into a unified, functional virtual power plant, powered by Capalo AI’s advanced AI platform. These energy storage units deliver 15 MW of power and a total capacity of 60 MWh, actively participating in Fingrid’s regulation electricity and reserve markets. The installation of the first solar panels and battery systems in selected properties is set to begin later this year. Innovestor has also appointed Elie Kopaly as the Investment Director for the energy storage segment.
“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 Kopaly.
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Read the orginal article: https://arcticstartup.com/innovestor-e20m-energy-storage-initiative/
