Cirio has acted for Neoen in the development of a 40 MW / 40 MWh lithium-ion battery facility

Cirio has assisted Neoen, one of the world’s leading producers of exclusively renewable energy, in the development of a battery storage facility called Storen Power Reserve. Neoen has issues notice to proceed with construction of the facility to battery storage expert Nidec, at the end of December 2022. The 40 MW / 40 MWh lithium-ion battery will be located in the municipality of Ragunda in Sweden and will be connected to the 130-kV E.ON grid. The battery is set to be operational in the first half of 2024.

In line with its develop-to-own model, Neoen owns 100% of Storen Power Reserve and will be the long-term operator of the asset. The battery will provide Svenska Kraftnät, the Swedish transmission system operator, with ancillary services – and more precisely Frequency Containment Reserve services. It will help maintain the balance between production and consumption in real time, efficiently enhancing the power system security. The battery will reduce grid stabilisation costs while facilitating the integration of renewable energy assets.

Cirio’s team has consisted of Jörgen Möller (Partner, Head of Energy), Fredrik Morfeldt (Partner, Energy) and Zacharias Thyrén (Associate, Real estate).

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