Nala Renewables buys third ready-to-build Finnish battery from Fu-Gen
Victoria Shinder2 min readNala Renewables has bought the 100 MW Kärppiö battery project in Teuva, in Finland's South Ostrobothnia region, from the Swiss developer Fu-Gen, Energy-Storage.news reports. The deal for the standalone, ready-to-build project closed on 29 September; Fu-Gen sold it outright.
It is the third such purchase between the two companies under a framework agreement signed in October 2025 for a pipeline of ready-to-build Finnish storage projects. Nala previously acquired the 50 MW Kauhava project in 2025 and the 125 MW Vuolijoki project earlier this year. Nala's interim chief executive, Remy Verot, said the latest deal brings its Finnish pipeline to 275 MW/550 MWh and called Finland a strategic storage market with a strong business case.
Fu-Gen, which develops onshore wind, solar and storage in the Nordic region, said it would use the proceeds for its wider pipeline of wind and storage projects, and for a newer line of business: developing data-centre sites next to its wind farms under what it calls a "bring your own power" model.
A crowded market for mid-sized batteries. The deal adds to a run of Finnish storage activity this year, much of it standalone projects of similar size aimed at the shared Nordic market for frequency and other ancillary services. The outlet lists Covenergo and Delta Capacity starting construction in September on the 125 MW/300 MWh AKKU One project in Lapinlahti, bought ready-to-build from Helios Nordic Energy and due for commissioning in the fourth quarter of 2027, and Mirova's €65m equity investment in two Nordic projects from Ingrid Capacity, including the 45 MW/90 MWh Pedersöre battery in Finland.
The pattern is visible in the numbers: the projects that change hands have permits and grid connections secured, and the buyer takes on construction and market risk. Purchase prices were not disclosed.
Why it matters
The "ready-to-build" label is what is being traded. In a market where connection capacity and permits are the scarce part, developers like Fu-Gen earn by getting projects to that point and selling, while owners like Nala assemble portfolios. The test of the model comes later, when several hundred megawatts of similar batteries compete for the same Nordic ancillary service markets.