HELSINKI, June 19,
2024 /PRNewswire/ -- Swiss-based Alpiq has placed an
order with Merus Power to build a 30 MW/36 MWh energy storage
facility in Valkeakoski to be connected to Fingrid's grid. Merus
Power has carried out the project development work and is
responsible for the overall supply of the energy storage facility.
In addition, the parties have concluded a contract for operation
maintenance services.
The delivery and commissioning of the energy storage facility is
scheduled for summer 2025. The investment amounts to
nearly EUR 20 million and includes an option to use Merus
Power's trading service in the future.
Alpiq is a leading Swiss electricity producer and energy service
provider and is active throughout Europe. Alpiq has a
low-carbon and flexible asset portfolio with a strong base of hydro
and thermal plants, nuclear and renewable assets.
The main function of the energy storage facility to be built in
Valkeakoski is to support the balancing of generation and
consumption in the grid by participating in Fingrid's frequency
reserve market. The energy storage facility will be one of the
largest in Finland operating on
the frequency reserve market in terms of power and energy
capacity.
"We have persistently increased the expertise of Merus Power's
energy storage team and developed our solutions to meet a wide
range of market requirements. Our agreement with the
internationally operating Alpiq both demonstrates the effectiveness
of our energy storage strategy and contributes to the development
of their market position in Finland." - Mikko
Marttala, Project Development Director at Merus
Power.
Together for a better climate and an improved security of
supply
"This investment in a battery energy storage system (BESS) is a
valuable contribution to strengthening security of supply in our
European core markets and is in line with our corporate purpose.
The energy transition requires more and more intermittent wind and
solar energy capacities to be integrated. Alpiq can support this
integration by combining our existing expertise in flexible
generation with BESS investments." - Lukas Gresnigt, Head
International and member of the Alpiq Executive Board
Balancing electricity production and consumption is becoming
increasingly important as renewable energy sources become more
widespread. This change requires new solutions, as renewables make
the fluctuations in the frequency of the electric grid faster and
steeper. The energy storage facility in Valkeakoski will be able to
react to these changes in milliseconds.
The modern energy storage facility supplied by Merus Power
includes power electronics, intelligent software, and batteries
that form a high-tech, high-quality package. With its exceptional
expertise and technological know-how, Merus Power has the potential
to act as a value chain builder for the entire business. All their
products are designed and manufactured in Finland, where Merus Power holds a leading
position in the market. Jones, Lang & LaSalle is advising Merus
Power on the project to be build in Valkeakoski.
"We have tailored Merus Power's energy storage software and
services to meet the specific needs of our customers. Our software
provides customers with confidence simplicity in using their
devices and getting the most out of their entire investment. Our
customers can also rely on the compatibility of the hardware and
software and the ability to react quickly to market changes. We are
able to accommodate future requirements in our existing systems -
thus maintaining high availability in both the short and long
term." - Kari Tuomala, CEO of Merus
Power.
For more information:
Kari Tuomala, CEO,
kari.tuomala@meruspower.com, +358 20 735 4320
Jonna Kannosto, Marketing and Communications Director,
jonna.kannosto@meruspower.com, +358 44 357 8320
Aktia Alexander Corporate Finance Oy, Authorised Advisor, +358 50
520 4098
Distribution:
Nasdaq Helsinki Ltd.
Key media
Merus Power in brief:
Merus Power is a technology company that enables a sustainable
and energy-efficient future. We design and manufacture innovative
electrical engineering solutions, such as energy storages, power
quality solutions and services for renewable energy and industrial
needs. With our scalable technology, we enable the growth of
renewable energy in electric grids and improve the energy
efficiency of society. We are a domestic innovative electrical
engineering specialist and operate in global and fast-growing
markets. Our personnel represent internationally respected
engineering expertise. Our turnover in 2023 was EUR 29.0 million and our stock trading symbol on
the Nasdaq First North Growth Market Finland is
MERUS. www.meruspower.com.
The original of this document has been made in Finnish. In case
of any discrepancy, the Finnish version will prevail.
Alpiq in brief:
Alpiq is a leading Swiss energy services provider and
electricity producer that operates throughout Europe. It offers its customers comprehensive
and efficient services in the fields of energy generation and
marketing as well as energy optimisation. Alpiq has been generating
climate-friendly and sustainable electricity from carbon-free Swiss
hydropower for more than 100 years. The power plant portfolio also
comprises shares in two Swiss nuclear power plants as well as
flexible thermal power plants, wind farms and photovoltaic
facilities in Europe. The Alpiq
Group has around 1,200 employees and is headquartered in Lausanne.
Alpiq Holding Ltd. is a private stock corporation in majority
private ownership. It is fully controlled by the three shareholder
groups of Schweizer Kraftwerksbeteiligungs-AG (SKBAG), the
Consortium of Swiss Minority Shareholders (KSM) and EOS Holding SA
(EOS).
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