FEP and Aurinkokarhu Form Joint Venture to Develop 3 GW of Solar and Storage in Finland

Futureal Energy Partners (FEP), the energy division of Central and Eastern Europe-focused real estate company Futureal Group, and Finnish renewable energy developer Aurinkokarhu Oy have announced a new joint venture aimed at developing approximately 3 GW of solar PV, battery energy storage systems (BESS), and hybrid power projects across Finland. The partnership marks a significant step in scaling up the Nordic country's renewable energy and storage capacity, particularly as demand for reliable clean power continues to grow.

Under the agreement, Aurinkokarhu will leverage its 3 GW Finnish pipeline, which includes 2 GW of BESS under development, 1 GW of solar PV, and multiple hybrid projects combining generation and storage. The company expects around 1 GW of projects to reach ready-to-build status during 2026, with the remaining projects targeted for completion in 2027 and 2028. The joint venture also includes an early-stage pipeline of more than 0.8 GW spanning Finland and Sweden, signaling the partnership's intent to expand across the broader Nordic region.

“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,” said Andreas Renfält, co-founder and CEO of Aurinkokarhu. His comments underscore the growing recognition that energy storage is a critical enabler of renewable integration, particularly in markets with high shares of variable generation.

FEP brings financial and transaction capabilities to the partnership, while Aurinkokarhu contributes local development expertise and a deep understanding of the Finnish market. Calling Finland one of Europe’s most attractive markets for renewable energy and energy storage, FEP said it sees significant potential to develop high-quality projects in the country. The collaboration follows their earlier cooperation on the Tuovila BESS transaction, which marked FEP’s entry into the Finnish market in March 2026.

The joint venture reflects a broader industry trend where developers and investors are joining forces to accelerate project pipelines and share risk in fast-growing renewable energy markets. With Finland positioning itself as a hub for data centers and industrial electrification, the combination of solar and storage capacity is expected to play a pivotal role in meeting future electricity demand while maintaining grid stability. The partnership is poised to contribute meaningfully to the region's energy transition and could serve as a model for similar collaborations in other Nordic countries.