Merus Power Plc, Press Release, 26 November 2024 at 10:30 a.m.

The largest battery energy storage system operating on Finnish electricity markets, delivered by Merus Power, has been completed and is now in market use. The energy storage facility, designed for Finnish cold and snowy conditions, is located in Lempäälä, Finland. It is an investment of a fund managed by Taaleri Energia. The completion of this project is a significant milestone for the company, as it represents the largest energy storage system ever manufactured by Merus Power.
 

Acting as the EPC contractor, Merus Power delivered the turnkey solution. The EPC project encompassed development, procurement, and construction. Additionally, the company conducted all project testing and ensured the energy storage system's readiness for market operations. Merus Power's expertise spans the entire value chain-from development and manufacturing to technical design and energy trading.
 

The needs of renewable energy are transforming power grids

The growing share of renewable energy makes balancing electricity production and consumption increasingly challenging. The decreasing role of traditional condensing power plants has reduced the grid's ability to handle sudden changes, thereby increasing the need for fast and flexible energy reserves. The energy storage system at Lempäälä can respond to grid balancing needs within milliseconds, far exceeding the reserve market's 2-second response time requirement.

A modern energy storage system is a technically complex entity. The power electronics, control systems, and protection systems of the Lempäälä energy storage system were all designed, manufactured, and programmed by Merus Power. This demonstrates the company's unique technological expertise and ability to deliver solutions that perform efficiently in dynamic electricity markets, even in extreme cold weather conditions.
 

For more information:
Kari Tuomala, CEO, kari.tuomala@meruspower.com, +358 20 735 4320
Jonna Kannosto, Marketing and Communications Director, jonna.kannosto@meruspower.com, +358 44 357 8320

Merus Power in brief:
Merus Power is a technology company that enables a sustainable and energy-efficient future. We design and manufacture innovative electrical engineering solutions, such as energy storages, power quality solutions and services for renewable energy and industrial needs. With our scalable technology, we enable the growth of renewable energy in electric grids and improve the energy efficiency of society. We are a domestic innovative electrical engineering specialist and operate in global and fast-growing markets. Our personnel represent internationally respected engineering expertise. Our turnover in 2023 was EUR 29.0 million and our stock trading symbol on the Nasdaq First North Growth Market Finland is MERUS. www.meruspower.com.

About Taaleri Energia
Taaleri Energia is a renewable energy fund manager with one of the largest dedicated renewables investment teams in Europe. The team manages a 9.3 GW wind, solar and battery storage portfolio in Europe and the US.
Taaleri Energia is ranked as a "Consistent Top Performing Infrastructure Manager" by Preqin.
Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange. www.taalerienergia.com/en

The original of this document has been made in Finnish. In case of any discrepancy, the Finnish version will prevail.