DLA Piper advised OX2 on the divestment of its 50 MW battery storage system located in Finland

DLA Piper has advised OX2 on the divestment of its battery energy storage project in Finland to the L&G Clean Power Fund. The transaction was completed by NTR plc, a leading renewable energy specialist, on behalf of the fund. The ready-to-build Uusnivala project is located in Northern Ostrobothnia, close to a connection point in an area with high wind power penetration. The project will have a total capacity of 50 MW / 110 MWh and will contribute significantly to transmission grid stability as the demands shift following a rapid electrification and transition to a fossil free-energy system. It will also participate in wholesale markets through energy arbitrage.

The DLA Piper advisory team included Antti Niemi and Tiia Ryhänen (lead counsel), assisted by Eliel Ahmala, Panu Punkari and Johanna Smalén.