Mirova, a prominent player in sustainable investing and an affiliate of Natixis Investment Managers, has announced a significant equity investment of €65 million in two battery energy storage systems (BESS) developed by Ingrid Capacity. This investment marks the inaugural projects under Mirova’s Nordic Storage Platform (NSP), which aims to develop, construct, and operate utility-scale battery energy storage assets throughout the Nordic region.

### Overview of the Investment

The two battery energy storage systems, located in Finland and Sweden, will collectively provide 145 MW of power capacity and 290 MWh of storage capacity. These systems are designed to enhance grid resilience and facilitate the integration of renewable energy sources, which is increasingly vital as Europe prioritises energy sovereignty.

Sponsors

The strategic importance of investing in infrastructure that bolsters local energy systems cannot be overstated. Battery energy storage systems play a crucial role in storing electricity and releasing it when demand peaks, thereby improving grid flexibility and resilience. This capability is particularly important as the share of intermittent renewable energy sources continues to grow.

### Details of the Projects

The NSP’s initial portfolio includes two utility-scale projects:

1. **Pedersöre, Finland**: This project features a 45 MW / 90 MWh battery storage system that is ready to commence construction. It represents Mirova’s first investment in energy transition infrastructure within Finland.

2. **Vaggeryd, Sweden**: This project is a larger 100 MW / 200 MWh battery storage facility located in the SE3 electricity price area. It is anticipated to reach ready-to-build status by 2027.

Both projects will be developed, operated, and optimised by Ingrid Capacity, a leading specialist in battery storage in the Nordic region. Ingrid Capacity will provide comprehensive technical and commercial asset management, as well as engineering, procurement, and construction (EPC) management services, while continuing to advance the Vaggeryd project until it is ready for construction.

### Strategic Partnership

This collaboration between Mirova and Ingrid Capacity is expected to leverage the strengths of both companies. Ingrid Capacity brings extensive expertise in the development and operation of battery storage assets, while Mirova contributes its experience in financing energy transition infrastructure across Europe, particularly in Sweden.

Axel Holmberg, CEO of Ingrid Capacity, expressed enthusiasm about the partnership, stating, “We are pleased to be Mirova’s first BESS partner in the Nordics. Strong partnerships are essential when creating value for the long term, and our two institutions share the same sense of responsibility in doing so. Both companies understand the critical role for BESS in building a better grid and European resilience. Our mission is to build Europe’s leading integrated flexibility platform. Trusted partners like French Mirova are key to that growth journey.”

Antoine Blayau, Investment Director at Mirova, highlighted the importance of battery storage in Europe’s energy infrastructure, noting, “Battery storage is becoming a critical component of Europe’s energy infrastructure, enhancing grid flexibility, supporting renewable integration, and strengthening security of supply. This initial portfolio is underpinned by attractive market fundamentals and a resilient risk-return profile, including an offtake agreement for the Pedersöre project. We look forward to scaling the platform and supporting the development of more resilient energy systems across the Nordic region.”

### Advisors and Support

Mirova was supported by a team of advisors during this transaction. Mannheimer Swartling served as the lead legal counsel, with assistance from Finnish law firm Hannes Snellman. Baringa provided insights on technical and market matters, while EY advised on tax issues. WTW was involved in insurance matters, and RMT provided guidance on antitrust considerations.

### About Ingrid Capacity

Ingrid Capacity is a Swedish energy-tech and infrastructure company focused on addressing critical grid constraints through vertically integrated flexibility solutions. The company combines deep grid expertise with proprietary optimisation technology and a scalable development platform. With the addition of the projects in partnership with Mirova, Ingrid Capacity has deployed and is managing over 950 MWh of battery energy storage systems.

### About Mirova

Mirova is a global asset management firm dedicated to sustainable investing, with a strong commitment to creating long-term value while positively impacting the environment and society. With a history of over a decade in sustainable finance, Mirova has developed innovative investment solutions across various asset classes. As of June 30, 2026, Mirova and its affiliates managed €36.7 billion in assets. The firm is headquartered in Paris and is recognised as a mission-driven company, certified as a B Corp since 2020.

### Conclusion

The investment by Mirova in Ingrid Capacity’s battery storage projects represents a significant step towards enhancing energy resilience in the Nordic region. As Europe continues to transition towards renewable energy sources, the role of battery energy storage systems will be crucial in ensuring a flexible and reliable power supply. The partnership between Mirova and Ingrid Capacity is poised to contribute meaningfully to this transition, supporting the development of a more sustainable energy infrastructure in the Nordics.