Herbert Smith Freehills Kramer advises OX2 on the financing of its first energy storage facilities in Finland

Leading global law firm Herbert Smith Freehills Kramer has advised OX2 on the financing of its first energy storage facilities in Finland. The battery energy storage systems (BESS) are co located with the Kannisto and Korkeamaa wind power projects, bringing the total installed capacity of the combined wind and storage facilities to 467MW.

The energy storage projects represent OX2’s first energy storage additions to its Finnish independent power producer (IPP) portfolio. The Kannisto and Korkeamaa wind power projects reached investment decision in December 2025, on which Herbert Smith Freehills Kramer also advised.

BESS projects are a relatively new technology in Finland, with energy storage playing an increasingly important role in enhancing energy security, grid stability and frequency regulation. Storage facilities are increasingly co located with wind farms to support the integration of renewable energy into the power system.

This transaction is the latest in a series of European financings for OX2 on which Herbert Smith Freehills Kramer has advised, including OX2’s investment in two wind farms in Finland, which represented the largest renewable energy investment in the country to date.