News release

JLL completes first BESS transaction in the Nordics, advising Merus Power Plc on the divestment of 30MW asset in Finland

Merus Power sells 30MW BESS asset to Alpiq AG

July 02, 2024

Nicole Sansom

EMEA Communications Manager
+44 7543 305 152

LONDON, 02 July 2024 – JLL’s Energy and Infrastructure Advisory team acted as exclusive sell-side M&A advisor to Merus Power Plc, a leading Finnish based technology provider, on the 100% sale of a notice-to-proceed (NtP) battery energy storage system (BESS) project located in Valkeakoski, Finland, with a total capacity of 30MW. The project is due to commence construction and expected to begin operations in the second half of 2025.

Following a competitive process involving large number of domestic and international investors, the BESS project was sold to Alpiq AG, a leading Swiss electricity and energy service provider. Merus Power Plc will also be responsible for providing EPC and O&M services. Once operational, it will be one of the largest standalone operational BESS assets in Finland.

The completion of this sale is a significant achievement that marks the 5th BESS transaction close of 2024 for JLL and the 1st BESS transaction in the Nordics.

Mikko Marttala, Project Development Director, Merus Power, said: "We are delighted to finalize this deal with Alpiq AG, which allows us to start building a great BESS installation for them. This achievement not only highlights our commitment to delivering high-quality energy storage solutions but also strengthens our position in the growing renewable energy market. I would like to thank the JLL Energy and Infrastructure team, especially Kislay Jha, Max Stirling, and Robert Readhead, for running a smooth process that allowed us to choose the best partner for our Valkeakoski project. We are sure to continue our cooperation with JLL in the future."

Linus Ericsson, CEO, JLL Sweden, said: “It has been a pleasure working together with Merus Power and our highly competent Renewables Team in London, led by Robert Readhead & Max Stirling, as commercial advisors on the BESS divestment. We have successfully brought JLL's international capacity and broad network of investors to the Nordics. We are excited about continuing to build our renewables business in the Nordic region and working closely with Merus Power and Mikko Marttala on future projects.”

Robert Readhead, Senior Director, Energy & Infrastructure Advisory, EMEA, JLL, said: “The successful completion of our first BESS transaction in Finland is a testament to the extensive knowledge and experience of our Energy & Infrastructure Team. Our team's ability to adapt to different markets with precision and agility is what sets us apart and allows us to successfully navigate the complexities of the renewable energy industry across new geographies. It was a great pleasure to work with the Merus Power team, who have delivered and contracted a high-quality asset.”

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Merus Power

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.