Fu-Gen, a Swiss-based renewable energy developer and independent power producer, signed an agreement for the sale of a portfolio of three battery energy storage system (BESS) projects in Finland with a combined capacity of 15 MW to Icecreek Energy, a European asset management platform focused on grid-scale battery storage assets.
The three projects, developed by Fu-Gen, are located in Finland and have been brought to a ready-to-build stage. The transaction highlights the importance of partnerships in accelerating the energy transition and marks another milestone in Fu-Gen’s strategy to develop and realise high-quality energy infrastructure projects across the Nordic region. Energy storage is a key enabler for strengthening energy security, enhancing grid stability and building a more sustainable and resilient energy system.
Seppo Tupeli, Development Director at Fu-Gen, said:
“We are pleased to have completed this transaction with Icecreek Energy. These projects reinforce Fu-Gen’s role as a leading developer of energy projects in the Nordic region. Energy storage plays a critical role in the energy transition by providing flexibility to the power system and enabling more renewable electricity to be delivered at reliable and competitive prices for both industry and households.”
The portfolio consists of three standalone battery storage projects with a total capacity of 15 MW. Once operational, the systems will provide grid services that help balance supply and demand in Finland’s electricity system, improve overall grid stability and support the reliable operation of Finland´s power system.
Fabian Siegel, Icecreek Energy, commented:
“We are delighted to partner with Fu-Gen on this portfolio of battery storage projects in Finland. The projects represent an important step in expanding grid-scale energy storage in the Nordic region and a part of Icecreek Energy II, a dedicated BESS asset pool we are building in Finland. Battery storage will play a vital role in supporting grid flexibility, integrating more renewable energy and strengthening the resilience of the European power system.”
The projects are located in Ulvila, Sastamala and Koskenkorva, with construction scheduled to begin later this year.
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AI-generated illustration made by Icecreek Energy for visualisation purposes.
Media Contacts
Emmy Tollin, Head of Communications
e.tollin@fu-gen.com
0046 (0)72 - 214 12 77
Fabian Siegel, Partner Icecreek Energy
fabian@icecreekenergy.com
About Fu-Gen
Founded in 2017, Fu-Gen is an entrepreneurial independent power producer and renewable energy investor that is active across the Nordics. From its offices in Stockholm, Helsinki and Zurich, Fu-Gen leverages over a century of expertise developing, financing, constructing, and optimising renewable energy assets and technologies to pursue its mission of empowering Future Generations with clean sustainable energy solutions. Backed by leading institutions and pension funds, Fu-Gen develops both greenfield renewable assets and invests in high-potential projects further along the value chain to deliver superior sustainable returns to its investors over the long-term.
About Icecreek Energy
Icecreek Energy is a European battery energy storage asset management and investment platform headquartered in Grünwald, Germany. Founded in 2024, the company develops, constructs, and operates grid-scale battery energy storage systems (BESS) that support the stability and flexibility of Europe's electricity grids as they transition to renewable power. Icecreek targets mid-market projects across Germany and Finland, with a growing pipeline of BESS storage assets across Europe.
