The 192 MW/420 MWh battery energy storage project that Evecon and Corsica Sole developed together near the Tsirguliina high-voltage substation in southern Estonia has reached a final investment decision and entered the construction phase. The new owners of the Raudsepa BESS project are Finland-based Taaleri Energia and KJK Capital. The storage facility uses batteries from South Korean manufacturer LG Energy Solution and will be fully operational by the end of 2027.
Evecon CEO Karl-Joonatan Kvell welcomes the fact that the project, started already several years ago, has now reached the construction phase: “As a company focused on developing energy projects, our main goal is to turn ideas into reality. Our business model is flexible. Together with our partners, we have built energy projects from scratch and then operated them on energy markets, and we have also sold projects at different stages of development. We are pleased to see one of the largest BESS projects in Estonia and the Baltics now nearing completion under its new owners. The Raudsepa project continues Evecon’s development track record, which began in 2020: to date, final investment decisions totalling more than EUR 1 billion have been made on energy projects we initiated in the Baltic states. All these projects help secure both electricity supply and generation capacity in line with EU climate policy.”
Thank you to EY-Parthenon Corporate Finance who acted as sell-side M&A advisor!
The photo is for illustrative purposes only.