Sustainable Energy Solutions Sweden Holding AB (SENS) has acquired full ownership of two energy storage projects to be constructed at the Pyhasalmi mine in Finland.
The projects, which feature two distinct technologies, have a combined capacity of 160 MW. The acquisition includes an 85-MW battery energy storage system (BESS) and a 75-MW/530-MWh underground pumped hydro storage (UPHS), which will utilize the existing mine structure.
The BESS project is set to begin construction soon, with operations expected to commence by 2025. Meanwhile, construction on the UPHS will start in 2025, supported by a EUR 26.3-million (USD 29.1m) subsidy from Finland's Ministry of Economic Affairs and Employment (MEAE). SENS plans to seek additional investors to secure full financing for both projects.
The company has also highlighted the potential to expand the project by incorporating a solar power plant. Earlier this year, Dovre Group, a Finnish project management firm, was brought on as a partner for one of the ventures.
