FEP is the energy division of the European Futureal Group, and FEP has now established a joint venture with the Korsholm-based company Aurinkokarhu. This will enable the continued development of the business. The newly established company will ensure the development and financing of a portfolio of approximately 3 GW of battery storage, solar, and hybrid projects in Finland and enable the platform’s expansion into other Nordic countries. The first step is to complete the establishment of operations in Sweden. 

The portfolio’s current main focus is on battery storage systems; approximately 2 GW of storage capacity is under development. In addition, 1 GW of solar projects and several hybrid projects combining solar farms and energy storage are planned. About 1 GW of the portfolio is expected to be ready for construction to begin in 2026, while the remainder is planned for 2027–2028. Among others, the battery storage systems Åback Energy Storage in Tjöck, Kristinestad, and Annis Energy Storage in Jussila, Nykarleby, are included in the joint venture’s projects. 

Battery storage systems are charged when there is an abundance of electricity—that is, on windy and sunny days—and then feed electricity back into the grid when demand is high. The storage systems thus serve two purposes: they keep the power grid stable, which is important as more renewable energy generation is built out, and they smooth out the price spikes that households and local businesses would otherwise see on their electricity bills. 

“Batteries are the silent workhorses of the energy transition. Every megawatt-hour of storage capacity we build creates room for more renewable energy in the system without compromising the reliability of supply, and it smooths out the sharpest spikes in electricity prices for ordinary consumers,” says Andreas Renfält, co-founder and CEO of Aurinkokarhu. 

For host municipalities, a battery storage facility is an unobtrusive neighbor: it takes up only a few hectares of land, is relatively quiet, produces no emissions, and generates little traffic once it is built, while also providing property tax revenue to the municipality, lease income to landowners, and local jobs during the construction period.  

“We develop our projects in close dialogue with landowners, municipalities, and utility companies, and this partnership allows us to move projects to the construction phase quickly. It also sends a message of continuity to the local communities that are hosting one of our projects. “We want to offer residents, municipalities, and other local stakeholders a well-capitalized developer with a long-term commitment,” says Staffan Asplund, co-founder of Aurinkokarhu. 

The partnership’s first joint project was to secure financing for the development of the 124 MW Tuovila battery storage facility in Toby, Korsholm. The transaction was completed in 2025 with financing from FEP. The facility is scheduled to begin operations next year. 

“Finland has quickly established itself as one of Europe’s most attractive markets for renewable energy and energy storage. Together with Aurinkokarhu, we are building a scalable platform that combines deep local development expertise with institutional capital and a long-term strategic vision,” says Daniel Szentirmai, co-founder and CEO of Futureal Energy Partners. 

About Futureal Energy Partners 

Futureal Energy Partners is the energy division of the Futureal Group, responsible for electricity trading and the comprehensive development of energy investments. As an investor focused on the energy transition, the company builds strategic partnerships in key European markets in onshore wind power, solar, and energy storage. The Futureal Group is one of the leading real estate developers and investors in Central and Eastern Europe, with a portfolio of over 240 projects valued at 6 billion euros.