Nala Renewables acquires BESS project and expands into Finland

London, 23 January 2025 - Nala Renewables, a global power and renewable energy platform and independent power producer, has entered into an agreement to acquire a 50MW, ready-to-build battery energy storage (BESS) project in Finland from Fu-Gen AG, a Swiss-based renewables developer and independent power producer.

The BESS project is located in the Southern Ostrobothnia region of Finland, with construction expected to start during Q2 2025 and operations commencing in the following year. The acquisition builds on Nala’s existing BESS portfolio, which includes an operational 25 MW / 100 MWh project located in Belgium, as well as a number of projects in development across Europe.

Trafigura’s power trading team will support the project with its battery optimisation expertise.

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Mike O’Neill, Chief Executive Officer of Nala Renewables said: “We’re delighted to have invested in our first project in the Nordics. We look forward to broadening our portfolio in this important region for renewable energy, including onshore wind and further BESS projects."

”Will Herlinger, Head of Investment at Nala Renewables said: “We’re pleased to have transacted with Fu-Gen on this opportunity, a company that shares our expertise and commitment to developing and delivering high-quality renewable energy projects. Finland has strong market fundamentals and supportive policies for BESS investors. Further, we look forward to partnering with Trafigura to optimise the BESS, enabling Nala and Trafigura to contribute towards Finland's ambitious sustainability goals."

”Lorenzo Lanteri, Director and Founder of Fu-Gen, added: “This transaction marks a significant milestone for Fu-Gen, as we solidify our position in the Finnish market and continue to successfully execute our strategy of developing renewable energy assets in the Nordics. We are proud to collaborate with Nala Renewables and to contribute to the decarbonisation of the Finnish electricity sector.”

The BESS project will support Nala’s contribution to the UN Sustainable Development Goals by enabling efficient storage and release of renewable energy and contributing to a more sustainable and less carbon-intensive energy grid.

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For further information please contact:

Nala Renewables Press Office

Tel: +44 (0) 7353 969 045

Email: media@nalarenewables.com

About Nala Renewables:

Nala Renewables is a global power and renewable energy platform and an independent power producer focused on solar, wind and battery storage projects. Nala is a joint venture between Trafigura, one of the world’s leading independent commodity trading companies, and funds managed by IFM Investors.

Founded in 2020, Nala Renewables has grown its operational,i n-construction and development portfolio of renewable energy projects to around3GW of cumulative capacity. The vision is to continue to create shareholder value by involvement across the value-chain in developing, building, operating and investing in high quality solar, onshore wind and battery storage projects across core markets.

Visit: Nala Renewables

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 28 years. As of June 2025,Sungrow has installed 870 GW of power electronic converters worldwide. The company is recognised as the world's most bankable PV inverter and energy storage company (BloombergNEF). Its innovations power clean energy projects across the globe, supported by a network of 520 service outlets guaranteeing excellent customer experience. At Sungrow, we're committed to bridging to a sustainable future through cutting-edge technology and unparalleled service.

Visit: www.sungrowpower.com.

About KSBR (Keski-Suomen Betonirakenne Oy):

KSBR is a trusted expert in delivering the most demanding energy, infrastructure, and industrial projects in the Nordic countries. With a strong focus on safety, quality, and humanity to ensure that a sustainable future becomes a reality. Our main goal is that the results of our work speak for themselves in terms of quality.

Visit: https://ksbr.fi/en/

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