This acquisition follows Nala’s earlier purchase of a 50MW project from Fu-Gen in January 2025, bringing the company’s total Finnish battery energy storage capacity to more than 300MW. The newly acquired portfolio consists of four strategically located projects across Finland, with construction scheduled to begin in 2026.
Nala stated that this latest transaction supports the company’s broader goal of expanding its European battery energy storage portfolio, which already includes projects in Belgium, Poland, and Romania. The company views Finland as a key market with significant potential for renewable energy storage investments.
Chief executive Mike O’Neill said Finland presented “a strong business case” for energy storage. He added: “We are delighted to build on our existing investment there and our association with Fu-Gen who continue to demonstrate the quality of their approach to development.”
Fu-Gen’s director and founder, Lorenzo Lanteri, said the agreement reflected the company’s reliability and commitment to renewable energy growth. He stated: “Our Nordic team has delivered a high-quality energy storage portfolio in an attractive market. Energy storage plays a vital role in enhancing energy security, promoting a stable, self-sufficient energy supply, and supporting climate targets.”
According to Nala, the projects will contribute to the United Nations Sustainable Development Goals by facilitating efficient storage and release of renewable power, thereby supporting a lower-carbon electricity grid. The company emphasized that such developments help balance the grid, improve energy system flexibility, and strengthen energy resilience in the region.
Nala Renewables is a joint venture between Trafigura and IFM Investors. It manages a diversified renewable energy portfolio of approximately 3GW across Europe, Latin America, and the United States. The company’s continued expansion in Finland aligns with its strategic objective to develop, acquire, and operate high-quality renewable and storage assets that contribute to energy transition efforts.
The partnership between Nala and Fu-Gen highlights growing cooperation between international developers in advancing sustainable energy infrastructure across Europe. With construction of the Finnish projects expected to commence in 2026, the initiative marks another step in scaling up large-capacity battery energy storage systems to enhance renewable integration and grid reliability in the Nordic power market.
