Norwegian energy company Statkraft has entered into a significant seven-year agreement with OX2 in Finland for the distribution of energy generated from two upcoming battery facilities that have a combined output of 235 megawatts. This arrangement marks a strategic move for Statkraft as it aims to enhance its capabilities in energy storage and management, opening new avenues for monetizing battery capacity in the market. Hallvard Granheim from Statkraft emphasizes that this partnership will enable effective optimization of battery use, including precise timing for charging and discharging, thus maximizing value creation.

The battery plants will be built alongside OX2's wind power projects in the Finnish municipalities of Halsua and Soini, indicating a concerted effort to harness renewable energy synergies between wind and battery technologies. Granheim highlights Statkraft’s expertise in energy distribution, supported by one of the largest hydropower portfolios in the world. This extensive experience is expected to drive informed market analyses and strategic decision-making regarding energy distribution to ensure efficient operation of the battery systems.

In a notable first for such agreements, Statkraft is also introducing a price floor for the electricity sold through this arrangement, offering customers a minimum price guarantee. This innovative pricing model aims to provide stability and enhance customer confidence, while Statkraft remains committed to optimizing the market timing for battery capacity sales. The collaboration with OX2 signifies a progressive step towards integrating energy storage solutions into the broader renewable energy landscape, highlighting the growing importance of backup systems like batteries in an evolving energy market.