Cloudberry Clean Energy, together with Hafslund Vekst, has announced that the partners have reached a final investment decision (FID) in the joint development of Dingelsundet Battery Energy Storage System (“BESS”) project, located outside Karlstad, Sweden. The project’s size will be 24 MW/ 48 MWh and the partners will own 50% of the project each.
The project is made possible by pivoting from offshore wind to energy storage, enabled by a significant reduction in battery cost over the past three years and strong market outlook for grid flexibility in the Nordics, as evidenced by the record-high imbalance price in recent months. Both Hafslund and Cloudberry view this as an attractive opportunity to invest in emerging technology with substantial market potential.
'This investment is a testament to Cloudberry’s commitment to driving the energy transition in the Nordics. Together with Hafslund, we are proud to take a pioneering role in deploying new storage technologies that enable a more flexible and resilient power system,' says Anders Lenborg, CEO of Cloudberry Clean Energy ASA.
The project will be financed with a 50/50 split between equity and debt, making it one of the first BESS projects in the Nordics to achieve project financing. The total estimated CAPEX cost is approximately 11 million Euros on a 100% basis. Construction is scheduled to begin in August 2025, with commissioning expected in the third quarter of 2026. Looking ahead, the project partners see potential to expand the site with additional battery capacity and explore the integration of power production, enabling further value creation and supporting the ongoing energy transition in the region.
Source: Cloudberry
