Byhmgard, a utility-scale energy storage project developer, has entered into binding agreements through a wholly owned project company to acquire the rights to the 50 MW Hitura battery energy storage project in Finland.

Callio-Hitura Solarpark, a wholly owned subsidiary of developer Solarigo Systems, is selling the project rights. The transaction follows a letter of intent announced by the parties on July 23, 2026.

Solarigo is developing Hitura as a standalone battery storage project. The project is expected to reach ready-to-build status during 2026, with commissioning scheduled for late 2027.

Under the agreement, Byhmgard will take over the project rights and assume responsibility for completing the remaining development work required for the project to reach ready-to-build status.

The transaction and related payments will be completed in stages. Completion remains subject to customary closing conditions, including the project reaching ready-to-build status. The companies did not disclose the transaction value or other financial terms.

The acquisition is the first transaction under a framework agreement signed by Byhmgard and Solarigo on May 11, 2026.

“Energy storage is playing an increasingly important role in balancing the Nordic electricity system. We are pleased to be part of this change together with our committed partner Byhmgard. The signing of the project agreement is an important milestone in our expanding cooperation and demonstrates Solarigo’s ability to develop high-quality and investment-ready battery storage projects in Finland”, said Antti Koskelainen, CEO of Solarigo.

Byhmgard develops, builds, invests in, and operates utility-scale energy storage projects in Europe. The company’s operations also include engineering, procurement, and construction, software optimization, investment, and long-term operation of utility-scale energy storage projects across Europe.

The company is developing a 1 GW battery storage portfolio in Europe, with Finland and the Baltic countries identified as priority markets.

According to Mercom’s recently released 1H 2026 Funding and M&A for Energy Storage report, project acquisition activity accelerated sharply during the first half of 2026, with approximately 14 GW of battery storage capacity changing hands in 63 transactions, compared with 6.1 GW in 31 transactions during the same period in 2025.

In August 2026, Korkia Semecon Finland Renewables, a joint venture between Korkia and Semecon, completed the sale of the 125 MW Kukonkylä battery energy storage project in Finland to renewable energy developer and independent power producer Enlight Renewable Energy.