Swiss developer Delta Capacity has reached financial close on two standalone battery energy storage system (BESS) projects in Finland with a combined capacity of 250 MW / 600 MWh, as construction is underway on both assets.
The portfolio comprises the 125 MW / 300 MWh Kärppiö BESS project in Teuva and the 125 MW / 300 MWh AKKU One project in Lapinlahti. Delta Capacity is developing Kärppiö alongside Strioga Family Foundation, while AKKU One is being developed in partnership with Covenergo.
Delta Capacity said the projects are among the largest BESS developments in Finland to enter construction, with commercial operations targeted for Q4 2027.
French banking group Société Générale acted as sole senior lender to both projects, providing long-term financing while also acting as agent, security agent and hedge provider. Finnish export credit agency Finnvera is providing a counter-guarantee supporting one of the financing facilities.
Delta Capacity said it will act as the construction and long-term asset manager for both projects, while Sungrow has been selected as equipment supplier and Centrica Energy has signed partial tolling agreements for both assets.
The financing follows Delta Capacity’s commissioning of the 70 MW / 160 MWh Ånge BESS project in Sweden in June 2026, which is optimized by Centrica Energy.
“Achieving financial close on both Kärppiö and AKKU One represents a significant milestone for Delta Capacity and our partners, Covenergo and Strioga Family Foundation. The backing of Société Générale and Finnvera underscores the strength of these projects, the quality of our partnerships and the confidence in our development and investment strategy. With construction already underway, our focus now turns to successfully delivering both projects and bringing them into operation in 2027,” said Marc Weisser, CFO & CIO of Delta Capacity.
Delta Capacity said that Icecapital acted as debt adviser on the transaction, while AFRY and Aurora Energy Research served as technical and market advisers, respectively.
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