Insights

FRV increases BESS portfolio with the financial close of SIMO 100MW/200MWh in Finland

Published 13 October, 2025
  • The SIMO project, developed in Finland together with AMPTank Energy Oy, will feature a battery energy storage system (BESS) with a capacity of 100MW/200MWh.
  • The Project is divided into 2 phases that share a single interconnection point. Phase 1 (30MW/60MWh) is under commissioning and already operational in the wholesale market, and phase 2 (70MW/140MWh) is under construction with commissioning scheduled for August 2026.
  • The financial structure of the project includes a term loan with Kommunalkredit Austria AG (Kommunalkredit ) acting as sole arranger and lender.
  • SIMO will be one of the largest BESS projects in Finland after completion.

 

 

Madrid, 13th October 2025

Fotowatio Renewable Ventures (FRV), a leading company in the development of sustainable energy solutions and part of Jameel Energy, is advancing its battery energy storage (BESS) strategy in Finland with the announcement of the SIMO 100MW/200MWh 2 hour BESS project. Developed in partnership with AMPTank Energy Oy, SIMO represents a decisive step in FRV’s strategy to consolidate its leadership in the global energy storage sector.

Phase 2 of SIMO is a continuation of the pioneer BESS project: Phase 1, a 30MW/60MWh project in the near Fingrid’s Simojoki substation in Lapland, located at the top of the Baltic Sea, just over 100 kilometers below the Arctic Circle.

With SIMO, FRV continues to strengthen its energy storage platform, increasing the capacity of its BESS portfolio in operation and development. The project will enhance the flexibility of Finland’s electricity grid, support greater penetration of renewable energy sources, and drive the decarbonisation of the country’s energy mix.

SIMO will use 24 Sungrow PowerTitan battery arrays in phase 1 plus 34 Huawei Luna battery containers in phase 2 delivering 200 MWh of capacity, making it one of the largest projects in the country. The project covers a 1.2-hectare area and is key to stabilizing Finland’s growing renewable energy grid.

The financing of the project has been structured through a term loan provided by Kommunalkredit Austria AG, which has acted as sole arranger and lender.

This project represents a key milestone in consolidating our energy storage strategy. SIMO will help reinforce grid stability and enable greater integration of renewable energy in a key European market such as Finland.
David Menéndez
Managing Director of FRV Energy Storage.

 

“Collaboration with Kommunalkredit, and the commitment of other stakeholders and partners throughout the development of SIMO has been decisive in bringing this project forward. SIMO strengthens our position as a reference player in storage, particularly in the Nordics, and reflects FRV’s commitment to a more sustainable energy future.” 
Tom Guilfoyle
Managing Director of FRV UK

 

We greatly value our cooperation with first class companies such as FRV and Kommunalkredit, which allows us to develop and deliver grid scale BESS projects at scale and further the EU’s goals for renewable energy deployment.  We are looking forward to further growth in Finland, the preeminent country in Europe for both energy storage and data centers.
Neal Kumar
Chairman of AmpTank AG
Kommunalkredit is proud to support FRV and AMPTank in delivering this landmark project in Finland. As the country’s largest BESS, SIMO will play a pivotal role in advancing Finland’s ambitious decarbonisation targets. This transaction underscores Kommunalkredit’s strong commitment to Europe’s green transition and reinforces the bank’s position as a trusted financing partner in energy storage infrastructure.
Volker Kruse
Head of Banking at Kommunalkredit