Merus Power's trading service to be deployed for Sallila Energia’s energy storage
Merus Power Oyj, press release, May 16, 2024 at 2:00 pm
Merus Power and Sallila Energia have entered into an agreement for trading services for Sallila Energia's 1,7 MW energy storage. Sallila Energia's energy storage will help maintain the frequency balance of the grid and create value by trading in wholesale electricity markets at times of high volatility.
"We want to be at the forefront of solving the challenges of the energy transition. Our energy storage will bring flexible capacity wherever it is needed most: for frequency balancing or to smooth out fluctuations in wholesale electricity prices. We have explored platform opportunities and trust Merus Power’s expertise in the Finnish energy market and its excellent ability to respond to possible future changes. As a local operator, Merus Power is a natural partner for us.” - Tarja Heinonen, CEO, Sallila Energia
Merus Power's trading service includes optimization in both the wholesale electricity market and Fingrid's frequency reserve markets. The service takes into account the technical requirements of each system and helps customers to find the best ways to participate in the market. Different market participation strategies imply different degradation for the batteries. The service aims to maximize battery life in addition to the market revenues.
"Merus Power provides a trading service that takes care of optimal use of the battery in relation to its customers' core business. We take a holistic approach to customer value: in addition to trading, do they want to use the energy storage for securing the grid or reactive power compensation, for example? Optimization requires a broad understanding of energy storage technology, and that is why we can offer it to our customers." - Lotta Dahl, Electricity Market Specialist at Merus Power.
Additional information:
Kari Tuomala, CEO, kari.tuomala@meruspower.com, +358 20 735 4320
Jonna Kannosto, Head of Marketing & Communications, jonna.kannosto@meruspower.com, +358 44 357 8320
Merus Power in brief:
Merus Power is a technology company that enables a sustainable and energy-efficient future. We design and manufacture innovative electrical engineering solutions, such as energy storages, power quality solutions and services for renewable energy and industrial needs. With our scalable technology, we enable the growth of renewable energy in electric grids and improve the energy efficiency of society. We are a domestic innovative electrical engineering specialist and operate in global and fast-growing markets. Our personnel represent internationally respected engineering expertise. Our turnover in 2023 was EUR 29.0 million and our stock trading symbol on the Nasdaq First North Growth Market Finland is MERUS. www.meruspower.com.
The original of this document has been made in Finnish. In case of any discrepancy, the Finnish version will prevail.