Merus Power Oyj announced that Swiss-based Alpiq has placed an order with Merus Power to build a 30 MW/36 MWh energy storage facility in Valkeakoski to be connected to Fingrid's grid. Merus Power has carried out the project development work and is responsible for the overall supply of the energy storage facility. In addition, the parties have concluded a contract for operation maintenance services.

The delivery and commissioning of the energy storage facility is scheduled for summer 2025. The investment amounts to nearly EUR 20 million and includes an option to use Merus Power's trading service in the future. Alpiq is a leading Swiss electricity producer and energy service provider and is active throughout Europe.

Alpiq has a low-carbon and flexible asset portfolio with a strong base of hydro and thermal plants, nuclear and renewable assets. The main function of the energy storage facility to be built in Valkeakoski is to support the balancing of generation and consumption in the grid by participating in Fingrid's frequency reserve market. The energy storage facility will be one of the largest in Finland operating on the frequency reserve market in terms of power and energy capacity.