SENS attracts Dovre Group as partner in Finnish energy storage project

Sustainable Energy Solutions Sweden Holding AB (SENS) said today that it has attracted Finnish project management services provider Dovre Group (HEL:DOV1V) as a partner in one of three projects involving energy storage and solar power generation at the non-active Pyhasalmi mine in Finland.

The overall initiative envisages the deployment of an 85-MW battery energy storage system (BESS) with a 75-MW/530-MWh underground pumped storage hydro (UPHS) facility in the town of Pyhajarvi. An option is also being considered for the construction of solar parks.

Dovre Group has initially committed to participating in the BESS project by making an investment in the special purpose vehicle being set up for this particular site. The company has also expressed interest in looking further into the underground pumped hydro project, as well as the potential solar sites.

The consortium behind the Pyhajarvi initiative includes SENS and municipally owned development company Callio which signed a principal agreement in May.

The attracted investment, the terms of which were not disclosed, will allow the partners to maintain and further develop the BESS project to a ready-to-build (RTB) phase, as well as the UPHS project until a final investment decision (FID) has to be made later this year.

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