EY acted as financial advisor to Evli in the majority sale of a 40 MW battery storage project in Finland to Helen

Evli’s renewable energy fund will continue as co-investor with Helen during construction and operation of the battery.

Evli Renewable Energy Infrastructure Fund II (“Evli”) has developed a large-scale battery storage project in Finland, and will continue as co-investor with Helen Oy, a leading Finnish energy company, during construction and operation of the battery.

The 40 MW battery storage will be built in Nurmijärvi, Finland, and is set to be operational early 2025. It is one of the first large-scale battery storage systems in Finland and can later be expanded to double the size. The battery will participate in Fingrid’s reserve markets and will support the green transition by balancing electricity price fluctuations and bringing stability and flexibility to the electricity system.

EY Corporate Finance acted as the exclusive financial advisor to Evli and ran a competitive auction process to secure an equity partner.

The transaction highlights EY’s commitment in providing first class sector-specialized corporate finance services in the evolving renewable energy market, and is another great example of EY’s expertise in battery storage, strong Nordic renewables presence and dedication to supporting our clients in innovative, first-mover transactions.

“My sincere thanks to everyone at EY Corporate Finance for their hard work, can-do attitude and professionalism on this ground-breaking transaction. Your support was invaluable.” – Daniel Pasternack, Evli

More information can be found on Evli's and Helen's press releases.

Below you can find a selection of EY's recent deal alerts and you can also find a more extensive list on our Strategy and Transactions page.