Stockholm energytech startup Flower is now acquiring one of Sweden’s largest battery projects. The project, which is a Ready-to-Build 40MW / 80MWh BESS site being developed by the renewable energy actor Arise, will support the Swedish energy system.
Arise is one of Sweden’s leading independent companies in the renewable energy sector.It manages the entire value chain – from exploration and permitting to financing, construction, divestment and long-term management of renewable electricity production.
Founded in 2007 as an onshore wind independent power producer, Arise now works across a broad range of technologies including utility scale solar and battery energy storage systems.
“Acquisitions like these used to be unprecedented in the Swedish market. Now they occur with increasing frequency, which says something about the fantastic development in the Swedish battery energy storage industry today.
With this breakthrough asset in place, Flower will further contribute to a balanced energy system by stabilising the grid and reducing volatility, while strengthening our position at the forefront of the energy transition," says John Diklev, founder and CEO of Flower.
Headquartered in Stockholm, Sweden, Flower was founded in 2020 and has raised €90 million.
In 2023, Flower recorded revenue of 100 million SEK (€8.6 million), a x10 increase YOY vs. 2022, and has grown its team this year to 100 employees.
In April, Flower announced it had acquired Sweden’s largest battery park, 42.5MW Bredhälla and in July 2024, it activated three new battery projects (Bredhälla, Kungälv, and Hanhals) to create the largest battery portfolio in Sweden.
Once operational, the project will give Flower end-to-end control over the complete battery value chain, opening up vital revenue streams for renewable energy actors such as grid operators and asset owners.
According to Per-Erik Eriksson, CEO of Arise AB:
“Flower has established itself as a very professional and leading player in battery storage, and we are therefore very pleased to be able to divest Pajkölen to Flower specifically.
The transaction is the result of excellent cooperation between the companies over an extended period, and we look forward to maintaining this good relationship moving forward."
The project is set to be completed and fully operational in 2025.
Lead image: Flower. Photo: uncredited.
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