Cactos Oy – Five grid-scale BESS projects

Rahoituskierros_financing round

We acted as legal counsel to Cactos Oy in the negotiations concerning the delivery, operation, trading and optimising contract for a portfolio of five grid-scale battery energy storage (BESS) projects.

Lieke advised Cactos Oy on negotiating and concluding a large-scale, multi-project contractual framework for the deployment of five grid-scale BESS projects across Finland with IceCreek Energy II Oy (Icecreek). Icecreek is backed by EB – Sustainable Investment Management GmbH (EB-SIM), a German asset manager focused on sustainable and renewable energy investments.

The portfolio’s combined installed power is 34 MW and storage capacity is 89 MWh. Lieke’s assignment comprised the negotiation of a comprehensive agreement structure across all five projects, covering the EPC delivery, a long-term service agreement, and the commercial optimisation and trading of the projects. The commercial operation of all five projects are expected to start in 2027.

Headquartered in Kempele, Finland, Cactos provides intelligent energy storage systems as a comprehensive service. The matter is Cactos’ largest contract to date, and represents the first of its kind with a Finnish company handling the delivery, operation and trading of the projects.

Lieke’s core team comprised Alisa Montonen, Kristiina Välimaa-Salmenkylä and Maija Tevajärvi. The core team was assisted by Ville Vyyryläinen, Rosa Lång, Tuuli Salmia, Iida Kivilähde and Joona Linner.

Read more in the Cactos’ press release available here.

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Team