New Stars & Company (NSC) is seeking equity investment as it looks to develop 100 MW of battery storage projects around Finland in coming years.

The Finnish energy start-up has appointed Valor to advise on the fundraising, with teasers to be issued in the next two weeks, co-founder Dan Sandin told Infralogic.

NSC is flexible on potential financing options given it is seeking capital for several smaller projects rather than one large one, Sandin said.

A first 3 MW self-financed project has already been developed in spring this year in Valkeakoski near Tampere and will be up and running next month, he said.

NSC is planning to develop the 100 MW of projects from 2025 to 2027 as part of a first phase in its battery development plans.

Sandin co-founded NSC in 2022 along with fellow energy sector veterans Mikko Askolin, Jarkko Avikainen and Veikko Huhta. Aside from its own battery development activities it provides project development services in energy storage for other companies as well as other specialised energy offerings.

Subsidiary NSC EnergyOpti, which was formed in 2023 and also provides optimisation services for energy storage to maximise revenue in areas such energy arbitraging, will provide asset management and optimisation services for the batteries NSC is developing.

NSC is one of a number of companies looking to develop battery storage to help manage Finland’s ongoing transition to renewable energies.

Infralogic reported last week that Finnish develop Pohjan Voima is currently looking to sell a 125 MW battery energy storage system (BESS) asset it is developing, one of the largest such projects in Finland, while several other projects have changed hands recently.

NSC’s strategy of developing smaller projects means it will be able to bring a new 10- 20 MW project online every quarter instead of waiting years to bring a larger project online, Sandin said.

Sandin was prior to NSC head of portfolio management at Finnish gas company Gasum, where his NSC colleagues Askolin and Avikainen also worked.