Global renewable energy investment platform Nala Renewables has issued a notice to proceed (NTP) for the construction of its 125 MW / 250 MWh Nala Vuolijoki battery energy storage system (BESS) in Finland.
The company stated the NTP marks the project’s transition from development into the construction phase, describing Nala Vuolijoki as “one of the largest BESS projects in Finland to start construction.”
Nala Renewables acquired the standalone Vuolijoki BESS from Swiss developer Fu-Gen in February 2026 as a ready-to-build (RTB) asset.
Along with Nala Vuolijoki, the company recently energized its 50 MW / 100 MWh Kauhava BESS and acquired the 100 MW / 200 MWh Kärppiö BESS from Fu-Gen in September 2026. In total, the three projects bring Nala Renewables’ pipeline to 275 MW / 550 MWh in Finland.
Nala Renewables is developing and will own the Nala Vuolijoki project. Finnish engineering firm Despro has been appointed as engineering, procurement, and construction management (EPCM) contractor and will also provide local engineering support. Destia Oy will serve as balance of plant (BOP) contractor, while Sungrow will supply the battery energy storage technology.
“By combining in-house expertise across development, financing, construction and operations with close partner collaboration, we are well positioned to navigate the evolving complexities of the energy transition and deliver high-quality projects that support both grid resilience and renewable energy growth in Finland and our other focus markets,” said Remy Verot, interim CEO at Nala Renewables.
The project secured long-term financing from Rabobank.
“We are pleased to support Nala Renewables with the long-term financing of the Nala Vuolijoki 125 MW / 250 MWh battery energy storage project. This transaction builds on our relationship with Nala and its owner, IFM Investors, a key institutional client of Rabobank,” said Gijs Hofman, executive director at Rabobank.
Finland’s reserve markets are changing, and Fingrid’s annual auction prices for upward and downward frequency containment reserves fell for 2026, while the grid operator shifted more procurement toward hourly markets. It makes Nala Vuolijoki’s intended revenue mix and trading arrangements worth watching as the project moves through its build.
Recently, Swedish energy infrastructure company Ingrid Capacity secured €65 million from investment firm Mirova for two BESS projects in Sweden and Finland. The 45 MW / 90 MWh Pedersöre BESS in Finland will be developed, operated, and optimized by Ingrid Capacity under a strategic agreement.
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