FRV increases BESS portfolio with the financial close of SIMO 100MW/200MWh in Finland

Fotowatio Renewable Ventures (FRV), a leading company in the development of sustainable energy solutions and part of Jameel Energy, is advancing its battery energy storage (BESS) strategy in Finland with the announcement of the SIMO 100MW/200MWh 2 hour BESS project. Developed in partnership with AMPTank Energy Oy, SIMO represents a decisive step in FRV’s strategy to consolidate its leadership in the global energy storage sector.

Phase 2 of SIMO is a continuation of the pioneer BESS project: Phase 1, a 30MW/60MWh project in the near Fingrid’s Simojoki substation in Lapland, located at the top of the Baltic Sea, just over 100 kilometers below the Arctic Circle.

With SIMO, FRV continues to strengthen its energy storage platform, increasing the capacity of its BESS portfolio in operation and development. The project will enhance the flexibility of Finland’s electricity grid, support greater penetration of renewable energy sources, and drive the decarbonisation of the country’s energy mix.

SIMO will use 24 Sungrow PowerTitan battery arrays in phase 1 plus 34 Huawei Luna battery containers in phase 2 delivering 200 MWh of capacity, making it one of the largest projects in the country. The project covers a 1.2-hectare area and is key to stabilizing Finland’s growing renewable energy grid.

The financing of the project has been structured through a term loan provided by Kommunalkredit Austria AG, which has acted as sole arranger and lender.