SENS signs lease agreement for new 40 MW battery storage facility outside Eskilstuna
Sustainable Energy Solutions Sweden Holding AB ("SENS" or the “Company") announces today that the Company has entered into a lease agreement with a landowner outside Eskilstuna. The agreement enables the construction of a battery storage facility with a planned capacity of 40 MW. SENS's project portfolio of solar and battery parks now amounts to 550 MW.
In 2023, SENS expanded its market shares through strategic agreements and partnerships. With a project portfolio exceeding 550 MW in solar and battery parks, SENS emphasizes its growing significance and the confidence the market has in its ability to deliver attractive energy solutions.
Looking ahead to 2024, SENS aims to continue the Company's positive trend by focusing on high-quality land areas with committed landowners in expansive regions. Today, SENS announces that the Company has signed its second agreement in the Swedish market for 2024, which is a lease agreement for a new battery storage facility outside Eskilstuna. This facility is planned to have a target capacity of 40 MW. Additionally, SENS is currently in discussions about a potential solar park near the battery facility, a step that would further strengthen the Company's presence and capacity in the region.
Henrik Boman, CEO of SENS, comments:
”We have now signed our second lease agreement in Sweden for 2024 and are maintaining our positive trend from last year. The market speaks a clear language, there is a clear attraction to sustainable energy solutions, and SENS is equipped to meet the growing need. Our project portfolio now includes over 550 MW in solar and battery parks, showing that we have successfully initiated several projects that demonstrate the strength of our lease construction and also positive cooperation with its committed landowners in expansive regions, where they are already considering the future of tomorrow. Our new agreement in Eskilstuna for a 40 MW battery storage facility is a step in the right direction that strengthens our position in the Swedish energy market.”
SENS strategy for energy projects and signed land lease
SENS has a well-defined sourcing strategy to ensure the realization of all energy projects in the Company's portfolio. In the initial phase, the so-called acquisition process, SENS is responsible for identifying attractive land leases suitable for establishing solar and battery parks. These areas should also be located close to power cables that are part of the Swedish power grid.
After a land lease has been signed, SENS begins the process of applying for necessary permits and identifying a suitable financier to realize the project. Once SENS has secured all project rights and contracted a financier, a 'Ready-to-build' status is achieved. Thereafter, the project is ready to start. The total timeframe for this process is estimated at approximately 10-12 months from the signing of the lease agreement to the start of construction.
Once a financier is contracted, SENS receives milestone payments during the permitting process, at the start of construction, and when the project is completed and operational.