Switzerland’s largest energy firm Axpo has entered the battery storage market in Sweden, buying a project from developers RES and SCR set to come online in 2024.

Axpo has acquired the 20MW/20MWh lithium-ion battery energy storage system (BESS) project in Landsrkona from global renewable energy developer RES and local outfit Scandinavian Capacity Reserve (SCR).

The project will come online in 2024 and will be connected to local utility and distribution system operator (DSO) Landskrona Energi. RES will continue to support Axpo with construction management, asset management and operation and maintenance after the sale is finalised.

Landskrona Energi is one of Sweden’s approximately 170 DSOs.

“We look forward to realising this project in Sweden with RES and working with Landskrona Energi. Axpo has set itself the goal of developing a significant volume of storage capacity in Europe by 2030, and this project is an important step on our way,” said Frank Amend, head of Batteries & Hybrid Systems at Axpo Group.

“We are pleased about the early participation in this project, especially by involving an important player like Axpo. Batteries will play an important role in Sweden’s full-scale electrification, and at a local level here in Landskrona, battery storage will help support and strengthen our electricity grid,” added Johan Holmstedt, CEO of Landskrona Energi.

The BESS market in Sweden has seen an uptick in interest in the last few years as the ability of the country’s hydroelectric fleet to provide the required balancing services has started to be stretched in light of increasing renewables and electrification.

The total operational BESS capacity by MW could double or even quadruple in 2023, according to developer Ingrid Capacity chief strategy officer (CSO) Nicklas Backer in an interview conducted at the Energy Storage Summit in London last month.

Read more of our coverage from the Energy Storage Summit 2023. For more information and to register for next year’s 9th edition of the Summit, taking place 21, 22 February 2024 in London, visit the official website.