Energy, Delta Capacity and Covenergo sign a battey storage deal in Finland

Under the partial tolling agreement, Centrica Energy will optimise and trade the asset across Nordic power markets, leveraging its 24/7 trading and multi-market optimisation capabilities to unlock value across wholesale, balancing and ancillary service markets. Through the partial tolling structure, the project benefits from secured revenues while maintaining merchant upside.

Commissioning is planned for Q4 2027, and once operational, AKKU One will provide critical flexibility to Finland's power system, supporting frequency regulation, balancing requirements and the continued integration of renewable generation.

Cassim Mangerah, Managing Director of Centrica Energy

This is the second partial tolling agreement between Centrica Energy and Delta Capacity in Finland this month, following the same structure recently agreed for the 125 MW / 300 MWh Karppio BESS project. Together with Centrica Energy's optimisation role on Delta Capacity's 70 MW / 160 MWh Ånge BESS in Sweden the agreement reflects a fast-growing Nordic flexibility partnership between the two companies. This agreement marks a significant milestone for Covenergo's growing portfolio of flexible assets and strengthens its strategic presence in the Nordic energy market.

"AKKU One is our third battery storage project with Delta Capacity and increases the battery capacity we optimise together across the Nordics to more than 400 MW. As power systems become increasingly shaped by renewable generation, flexible assets such as battery storage play a critical role in balancing supply and demand and creating value from market volatility. This project further strengthens our asset-backed trading business in the Nordics and builds on our growing partnership with both Delta Capacity and Covenergo. We're delighted to continue supporting the development of infrastructure that will help deliver a more flexible and resilient energy system." said Cassim Mangerah, Managing Director of Centrica Energy.

"We are proud to partner Covenergo with Centrica Energy on AKKU One, a flagship project in our portfolio," said František Kalivoda, CEO at Covenergo. "This agreement validates our capability to originate, develop, and structure bankable energy storage projects, and we are confident that Centrica's trading expertise will maximise the asset's value throughout its operating life. Covenergo remains fully committed to delivering high-quality, investment-ready projects that support Europe's energy transition."

"Signing two tolling agreements with Centrica Energy in Finland within a single month shows the pace at which we're scaling our Nordic platform. Centrica Energy brings proven trading expertise and a strong track record in Nordic power markets, and together with Covenergo's ownership and development of AKKU One, this agreement gives the project a clear, well-supported route to market. We're confident this partnership will continue to deliver strong outcomes as our Nordic portfolio grows," said Patrik Hes, CEO of Delta Capacity.

Finland's power system is among the cleanest in Europe and continues to see rapid growth in renewable generation, particularly wind power. As more renewable capacity comes online, battery storage is playing an increasingly important role in maintaining system stability, balancing supply and demand, and enabling more efficient use of renewable energy.