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A 100 MW / 200 MWh battery storage project at Vaggeryd in Sweden’s SE3 price area is expected to reach ready-to-build status in 2027, forming half of the Nordic portfolio that Mirova and Ingrid Capacity are co-developing.
The Vaggeryd project is paired with a 45 MW / 90 MWh system at Pedersöre in Finland, with Mirova investing €65 million across the two. Ingrid Capacity, the Swedish aggregator behind the portfolio, is positioning the assets around grid resilience and renewable integration rather than any single ancillary-service stream.
Sweden’s storage market sits at an inflection point. As Finland’s rapid build-out has shown, early-mover ancillary-service revenues can compress quickly as capacity scales. Sweden’s SE3 zone, home to a large share of the country’s industrial and urban load, offers both grid-balancing demand and a dense pool of C&I buyers.
For commercial and industrial customers in Sweden, the Vaggeryd project and its peers signal that utility-scale storage is moving into price areas where industrial load is concentrated — creating new flexibility options that C&I buyers can either buy into or compete against with their own behind-the-meter assets.
