JLL advises Ingrid Capacity AB on their strategic partnership with Locus Energy for Sweden’s second largest battery energy storage system (BESS) investment

JLL’s Energy and Infrastructure Advisory team acted as exclusive sell-side M&A advisor to Ingrid Capacity AB, a leading Nordic based energy technology company, on their strategic partnership with Locus Energy, a leading Nordic energy infrastructure company owned by SEB Asset Management’s fund SEB Nordic Energy. The partnership enables the construction of a 196MW BESS portfolio in SE3 and SE4 price areas of Sweden. The battery energy storage assets, ranging between 8-20 MW, have been strategically located to maximize their value to the grid both immediately and over the long term. The portfolio is due to commence construction and expected to begin operations in the second half of 2025.

JLL's Energy and Infrastructure Advisory team served as the exclusive sell-side M&A advisor to Ingrid Capacity AB in establishing a strategic partnership with Locus Energy. Ingrid Capacity AB, a prominent Nordic energy technology firm, is partnering with Locus Energy, a leading Nordic energy infrastructure company owned by SEB Asset Management's SEB Nordic Energy fund. This collaboration will facilitate the development of a 196MW Battery Energy Storage System (BESS) portfolio in Sweden's SE3 and SE4 price areas. The portfolio consists of strategically placed battery storage assets, ranging from 8 to 20 MW, designed to maximize grid value both in the short and long term. Construction is set to begin soon, with operations expected to commence in the latter half of 2025.

Building on our track record of continuous success, the completion of this sale marks the 7^th BESS transaction close of 2024 for JLL and 2^nd BESS transaction in the Nordics.

Axel Holmberg, CEO of Ingrid Capacity said: “We are thrilled to join forces with Locus Energy and welcome them as a key partner in our mission to shape the energy system of tomorrow. With our shared vision and commitment to advancing the energy transition, partnering with Locus Energy is an excellent fit. Ingrid Capacity has in a short time taken a leading position in the Nordics and are now entering several European countries. We are continuously looking for key financial partners supporting our growth journey in the transformation of the energy system.”

Max Stirling, Director, Energy & Infrastructure Advisory, EMEA, JLL, said: “JLL is pleased to have served as the M&A advisory partner to Ingrid Capacity, assisting in their successful partnership for the 196MW BESS portfolio – Sweden's second-largest battery storage investment. This significant achievement marks JLL's 2^nd successful BESS deal in the Nordic region during Q3-2024 alone, further reinforcing JLL's position within the Nordic renewables advisory landscape. We extend our appreciation to the Ingrid Capacity team for their commitment and delivering a portfolio of exceptional quality. This achievement underscores our continued dedication to driving success in the dynamic energy sector, and we look forward to future accomplishments together.”

Founded in 2022, Ingrid Capacity is an energy tech company specializing in flexible assets and energy storage in Europe. We enhance grid stability and support society's electrification, key to the green transition. By September, we’ll manage 200 MW of operational battery storage, with another 200 MW under construction and a 6+ GW development pipeline.