SENS secures a new large-scale battery storage project in Hallsberg of 50MW
Sustainable Energy Solutions Sweden Holding AB ("SENS" or the "Company") announces today that the Company has signed a land lease agreement to build a battery storage facility in Hallsberg, Närke, Sweden. The planned plant is expected to have a capacity of 50 MW.
SENS continues to establish its project portfolio by signing a new land lease agreement with a landowner in Hallsberg. The agreement enables the development of a battery storage facility with an expected capacity of approximately 50 MW. This agreement is in line with SENS's commitment to strengthen its position in the Swedish energy market and address the growing need that has arisen in connection with the green transition, where energy storage solutions are becoming increasingly central.
The new lease agreement is strategically located close to important infrastructure, which is crucial to being able to integrate the battery facility with the Swedish power grid in the future. SENS prioritizes consolidating its role as a leading player in the Swedish energy market. With each new agreement that is signed, the Company strengthens its position as one of the leading players in the green energy transition on the Swedish market.
The market value of project rights with 'Ready-to-build' status in the battery storage sector, based on previous transactions, is usually between SEK 250-500k/MW. Considering the specific characteristics of this project, its value can be estimated at between SEK 12.5-25 million, given that all project rights are obtained. Currently, the lease does not generate any direct revenue for SENS. Instead, the revenue comes when SENS has signed a sales or development agreement for the project with a long-term partner or investor.
Henrik Boman, CEO of SENS, comments:
"This land lease agreement in Hallsberg marks another step for SENS in our endeavor to contribute to the green transition. I am especially grateful to be increasingly able to participate in dialogues and strengthen our role in the network of landowners who share our vision of sustainable energy storage solutions. With this new facility, we look forward to further consolidating our position and continuing to deliver innovative solutions to meet Sweden's growing energy needs."
For further information contact:
Henrik Boman, CEO; Phone: +46 (0)70 224 63 61
The information was submitted for publication through the agency of the contact person set out above on October 13, 2023 10:00.
About SENS
Sustainable Energy Solutions Sweden Holding AB (publ)(SENS), provides sustainable energy solutions enabling the transition to a fossil-free and CO2 neutral energy mix both locally and internationally. SENS develops, designs, constructs and sells large-scale energy projects combining renewable energy sources with next generation energy storage technologies such as underground pumped hydro storage (UPHS) and/or battery energy storage systems (BESS). The company also conducts technical advisory consultancy services within energy storage and energy systems optimisation. The company is listed on NGM Nordic SME under the short name SUST.