Uppdrag | 19 Sep 2024

Setterwalls advised Arise on the divestment of the 40 MW battery storage project “Pajkölen”

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Setterwalls has acted as legal advisor to Arise on the divestment of the 40 MW Pajkölen battery energy storage project to Flower Infrastructure Technologies AB. The transaction marks a significant milestone in the renewable energy sector, furthering the development of sustainable energy solutions in Sweden.

The Pajkölen project, with a capacity of 40 MW, is a ready-to-build battery energy storage system co-located with the Kölvallen wind farm in Ljusdals municipality. Once commissioned, it will be one of the largest battery energy storage systems in Sweden to date. The transaction, valued at up to SEK 30 million, includes all shares in Pajkölen BESS AB and is contingent upon certain regulatory approvals. An additional contingent consideration of approximately SEK 15 million may be realized based on specific performance metrics over the first three years post-commissioning. The project is expected to be commissioned during 2025.

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