Mandate

Vinge advises Ingrid Capacity in its partnership with SEB Nordic Energy’s portfolio company Locus Energy

September 03, 2024 M&A Banking and Finance

Vinge has advised Ingrid Capacity in connection with the entering into a strategic partnership with Locus Energy, a leading Nordic energy infrastructure company owned by SEB Asset Management's fund SEB Nordic Energy.

The partnership will enable the construction of 13 new large-scale battery energy storage systems across southern Sweden, adding an additional 196 MW of flexible capacity to the national grid in price areas SE3 and SE4. The investment is the second largest of its kind in Sweden and the Nordics.

Ingrid Capacity’s business model entails the construction of large-scale battery energy storage facilities in Europe. I Sweden the batteries will e.g. be used to help Svenska Kraftnät and regional and local electricity network companies to secure the energy supply. Ingrid Capacity was founded in 2022, had a revenue of ca MSEK 117 in 2023, and has 50 employees.

The transaction is subject to applicable regulatory approvals.

Vinge's team consisted primarily of Carl Sander, Jonas Bergström, Vilhelm Rondahl, and Matilda Hamner (M&A), Christoffer Thalin and Jonatan Karlsson (Energy), and Helena Göransson and Jolinn Uhlin (Banking & Finance).

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