BW ESS Secures Nordea Loan for Swedish Battery Expansion

• Zurich's BW ESS secures SEK 628M to boost Sweden's energy storage, powering a 211-MW battery portfolio with Ingrid Capacity for a greener future.

BW ESS, a Zurich-based energy storage company, has secured SEK 628 million (USD 64.8 million/EUR 57.1 million) in debt financing from Nordea. This funding will support a 211-MW/211-MWh battery portfolio in Sweden, which BW ESS co-owns with Ingrid Capacity.

The financing will enable the development and operation of the battery storage facilities, enhancing energy storage capabilities in Sweden. This project is part of BW ESS's broader strategy to expand its energy storage footprint and contribute to the transition towards renewable energy solutions.

How will BW ESS's new financing impact Sweden's energy storage capabilities?

• The financing will accelerate the deployment of advanced battery storage technology in Sweden, increasing the country's overall energy storage capacity.
• It will support grid stability by providing a reliable backup during peak demand periods and integrating more renewable energy sources like wind and solar.
• The project will enhance Sweden's ability to store excess energy generated during low-demand periods, reducing reliance on fossil fuels.
• It will contribute to Sweden's goal of achieving a carbon-neutral energy system by 2045 by facilitating the transition to renewable energy.
• The development of these facilities will create jobs and stimulate economic growth in the region.
• The project will serve as a model for future energy storage initiatives in Sweden and potentially across Europe.
• It will improve energy security by reducing the risk of power outages and ensuring a consistent energy supply.
• The collaboration with Ingrid Capacity highlights the importance of partnerships in advancing energy storage solutions.