Luxcara, an independent asset manager specializing in clean energy infrastructure projects, has acquired the Tuisku utility-scale battery energy storage project in Finland.
The project is located near Keminmaa in Southern Lapland and has a planned capacity of up to 125 MW. The company acquired this project from local project developer Pohjan Voima, a subsidiary of Swedish renewables company Arise AB.
According to the company, the project is fully permitted, with all land rights secured and a legally binding grid connection agreement signed directly with transmission system operator Fingrid.
Grid connection works are underway, providing clear execution certainty for the construction phase, which is planned to begin in 2026, with commercial operation targeted for summer 2027.
Janis Hoberg, Investment Director at Luxcara, says: “Battery storage is becoming a cornerstone of Europe’s power system, and Finland offers particularly strong fundamentals for flexible assets. Tuisku BESS combines an advanced development status with an excellent grid location in a market that is well-suited for utility-scale storage. This acquisition reflects Luxcara’s disciplined approach to building a diversified energy infrastructure portfolio.”
In June 2025, the company acquired a 520 MW battery energy storage system in Germany from an undisclosed company. The project will be constructed on a previously unused site that was originally designed for a coal-fired power plant.
With the addition of the Tuisku project, Luxcara’s battery storage capacity, currently under construction, is said to be nearing 1 GW.
According to Mercom’s Annual and Q4 2025 Funding and M&A Report for Energy Storage report, there were 65 energy storage project M&A transactions in 2025 compared to 38 transactions in the same period of 2024.
In February 2026, Eolus, a renewable energy project developer, signed and closed the sale of the 127 MW/506 MWh Roccasecca stand-alone battery energy storage project located in Boulder City, Nevada. Construction of the project began in the fourth quarter of last year and is expected to start commercial operation in 2026.
