Merus Power has secured an order worth just under 20 million euros from the Swiss energy company Alpiqilta. The order is for a 36 MW/30 MWh electricity storage facility to be constructed in Valkeakoski and connected to Fingrid’s network. Merus Power will be responsible for the project development, delivery, and overall operation of the electricity storage. The agreement also includes maintenance and operation services.
Merus Power has made significant progress in enhancing its competence as a provider of total solutions, particularly in the field of electricity storage. The company’s turnover is expected to be heavily weighted towards the second half of the year, reflecting its continued growth and development in the market. Despite this order, Merus Power’s financial guidance for the current year remains unchanged. The company expects an increase in turnover and EBITDA compared to the previous year due to its focus on developing new technologies and total solutions, including collaboration with Taaleri Energia on the electricity storage project. These investments have required significant one-time costs at the beginning of the year.
The electricity storage facility is expected to be delivered and commissioned by the summer of 2025. Its main purpose will be to support the balancing of production and consumption in the main grid by participating in Fingrid’s reserve market. Merus Power anticipates that this electricity storage facility will be one of the largest in Finland in terms of energy capacity operating in the frequency reserve market.
