Insider Information: Merus Power signs over 8 million euro battery energy storage deal with Exilion – project strengthens the company’s position as a technology partner for hybrid power plants
30.6.2026 18:45:08 EEST | Merus Power Oyj | Inside information
Merus Power has secured an order worth over 8 million euros with Exilion to deliver a 20 MW / 41 MWh battery energy storage solution at the Varevaara wind farm in Tervola. The order includes the complete delivery of the energy storage solution, a hybrid controller, and maintenance and lifecycle services. Merus Power will be responsible for the turnkey delivery of the project. This is the third energy storage solution that Merus Power will deliver to Exilion. The project will be handed over to the customer in the fall of 2027.
In hybrid projects, the energy storage solution is located alongside renewable energy generation, allowing for more efficient use of existing grid capacity. These solutions support the power system in a way that optimizes the use of the existing grid without increasing the pressure to expand grid capacity.
The agreement includes Merus Power’s hybrid controller, developed for wind power applications. It enables the energy storage solution and the wind farm to be controlled as a single integrated system, significantly improving the profitability of the existing wind farm. This is the first energy storage solution in Finland to be built to optimize the operation of an existing wind farm that complies with the old grid code. The hybrid controller represents a significant step forward in product development for Merus Power and expands the company’s portfolio of control solutions for the growing hybrid market. Merus Power has previously implemented hybrid controllers, for example, in conjunction with electric boilers.
“Energy storage is an important part of developing our wind power solutions. It allows us to utilize production more flexibly, better manage fluctuations in production, and support the efficient operation of the power plant within the grid. We are already familiar with collaborating with Merus Power from previous projects. Merus Power’s turnkey delivery, along with its maintenance and lifecycle services, support the reliable implementation and long-term operation of the project,” says Ville Kymäläinen, investment manager of Exilion.
“The agreement signed with Exilion is an important demonstration of our long-term and reliable customer partnership, as well as Merus Power’s ability to deliver demanding energy storage projects with full responsibility. Battery energy storage solutions are becoming an increasingly central part of critical energy infrastructure. The growth of renewable energy is increasing the need for solutions where power generation, energy storage, and control work seamlessly together. Our European technology, developed and manufactured in-house, strengthens our position as a technology leader in the battery energy storage market and as a trusted long-term technology partner for our customers. ,” says Kari Tuomala, CEO of Merus Power.
The project supports the continued growth of Merus Power's battery energy storage business and demonstrates the strength of the company's integrated solution. Merus Power combines battery energy storage solutions, intelligent software and lifecycle services into an integrated solution that enables customers to optimize the integration of power generation, energy storage and control.
Disclosure regulation
The original of this document has been made in Finnish. In case of any discrepancy, the Finnish version will prevail.
Contacts
- Aktia Alexander Corporate Finance Oy, Certified Adviser, +358 50 520 4098
- Jonna Kannosto, Director, Communications and Investor Relations, +358 44 357 8320, jonna.kannosto@meruspower.com
- Kari Tuomala, CEO, +358 20 735 4320, kari.tuomala@meruspower.com
About Merus Power Oyj
Merus Power is a technology company driving the sustainable energy transition. We design and produce innovative electrical engineering solutions such as energy storages and power quality solutions, and services for the needs of renewable energy and industry. Through our scalable technology, we facilitate the growth of renewable energy in the electricity grids and improve the energy efficiency of society. We are a Finnish specialist in innovative electrical engineering and operate in global and high-growth markets. Our personnel represent internationally renowned engineering expertise. Our net sales in 2025 was EUR 54.6 million and our stock’s trading symbol on the Nasdaq First North Growth Market Finland is MERUS.