Vattenfall and TuuliWatti sign wind power balancing services agreement
Sweden-headed energy major Vattenfall has recently announced that it has signed a wind power balancing services agreement with TuuliWatti Oy, one of Finland's largest wind power operators.
Starting on January 1, 2020, the agreement entails forecasting, trading and balancing services for TuuliWatti’s total wind power production in Finland. Currently, the company’s wind power portfolio has an installed capacity of 441 MW and an annual production of approximately 1,3 TWh, which equates to 20 percent of Finland’s annual wind production in 2019.
The agreement with TuuliWatti is fully in line with Vattenfall’s ambition to become a leading provider of renewable energy services to corporate customers in Europe. This deal is an excellent match to our existing portfolio and a major step for Vattenfall to enter into the Finnish energy services wind power market, said Johan Hagsten, Vattenfall’s Nordic Origination Director at Business Area Markets.
Vattenfall is offering a full range of energy services for producers and large consumers of renewable electricity in all Nordic and North-European countries. By this, Vattenfall is helping customers to exploit the benefits of the electricity market taking on the risk profile that they want.
Established in 2009, TuuliWatti is an associated company of industrial wind power owned by the energy company St1 and S Group’s S-Voima. S-Voima is owned by SOK and regional cooperative companies.
Vattenfall offered the most cost-efficient solution to handle our wind production imbalance risk. The agreement also includes a newly completed wind farm ‘Ii Viinamäki’, which was the first non-subsided wind investment in Finland, said Tuomas Candelin-Palmqvist, Director at TuuliWatti.