BW ESS, a division of BW Group—a global leader in energy and maritime infrastructure—continues its long-standing relationship with Nordea Bank, which spans over two decades. The loan will bolster the portfolio of 14 large-scale BESS facilities, recognized as the largest of its kind in the Nordic countries. These assets, primarily owned by BW ESS, were developed collaboratively with Ingrid Capacity.
Marc Weisser, chief financial officer at BW ESS, stated: “We are thrilled to be partnering with Nordea on this landmark transaction for BESS in the Nordics, representing not only a significant milestone for the market, but also a significant achievement for BW ESS. It underlines the strength of our business model, coupling local development expertise with our global experience and financing relationships to unlock the value of energy storage.”
The portfolio was officially inaugurated in October 2024 by Sweden’s Minister for Climate and the Environment, Romina Pourmokhtari. The facilities play a vital role in enhancing energy security, affordability, and sustainability in Sweden’s energy landscape. By storing and supplying electricity, these systems support the integration of renewable energy sources and contribute to a more stable and eco-friendly energy grid.
Axel Holmberg, chief executive of Ingrid Capacity, stated: “This financing is more than a milestone — it’s proof that the market sees what we see: battery storage is not just an emerging technology. It’s part of the core infrastructure of tomorrow’s energy system — essential for energy security, affordability, and decarbonization. We deeply value our partnership with BW ESS and Nordea — both of whom share our conviction in the critical role of storage and our commitment to delivering impact across Europe.”
This financing underscores the growing importance of battery storage in modern energy systems. The collaboration between BW ESS, Ingrid Capacity, and Nordea Bank highlights a shared commitment to advancing sustainable energy solutions. The portfolio’s operational assets are poised to support Sweden’s transition to a cleaner energy future, offering reliable and cost-effective energy storage that aligns with regional environmental goals.
The successful securing of this green loan sets a precedent for future BESS projects in the Nordic region and beyond, demonstrating the viability and market confidence in large-scale energy storage infrastructure. BW ESS and Ingrid Capacity aim to continue leveraging their expertise and partnerships to expand the role of battery storage in Europe’s energy transition.
