Futureal Energy Partners (FEP) has entered into a strategic partnership with Finnish renewables developer Aurinkokarhu Oy (Aurinkokarhu) to co-develop a large-scale renewable energy pipeline in Finland. The portfolio includes approximately 3 GW of mid-stage solar photovoltaic (PV), battery energy storage system (BESS), and hybrid projects, further strengthening FEP’s position in the Nordic energy market.
The partnership builds on the successful cooperation between the two companies following the Tuovila BESS transaction completed in 2025. Under the new agreement, Futureal Energy Partners will participate in the development and financing of a diversified Finnish renewables pipeline consisting of standalone BESS, PV and hybrid projects located across Finland.
The current portfolio includes approximately 1,855 MW / 7,420 MWh of BESS capacity, 1,188 MW of solar PV projects, as well as multiple hybrid developments combining renewable generation with battery storage. Around 1.1 GW of the pipeline is expected to reach ready-to-build (RTB) status during 2026, with the remaining projects targeted for 2027 – 2028.
“This partnership represents a major step forward in our Nordic growth strategy,” said Daniel Szentirmai, Co-Founder and CEO of Futureal Energy Partners. “Finland has rapidly emerged as one of Europe’s most attractive renewable energy and energy storage markets thanks to its strong grid fundamentals, growing flexibility needs and supportive market environment. Together with Aurinkokarhu, we are building a scalable platform that combines local development expertise with institutional capital and long-term strategic thinking.”
Aurinkokarhu Oy was co-founded in 2022 by Finnish renewables entrepreneurs Andreas Renfält and Staffan Asplund. The company initially focused on solar development and had already developed and sold around 100 cMWp of projects by 2023 before expanding into battery storage and hybrid renewable solutions.
“Aurinkokarhu was founded to accelerate the development of high-quality renewable energy projects in Finland,” said Andreas Renfält, Co-Founder and CEO of Aurinkokarhu Oy. “Following the successful Tuovila transaction, we are excited to deepen our cooperation with Futureal Energy Partners. Their financial strength, transaction expertise and long-term strategic approach make them an ideal partner as we continue scaling our development activities across Finland and Sweden.”
The transaction is structured through a Swedish holding platform supporting Futureal Energy Partners’ long-term strategic objective of establishing a stronger presence across the Nordic region. The partnership also includes an additional early-stage development pipeline expected to exceed 0.8 GW in the coming years, creating further opportunities for renewable energy expansion and energy storage deployment across Finland and Sweden.
