May 16, 2024

Investing in battery storage in the Norwegian balance market.

PSW Power & Automation is entering the balance market in Norway. In addition to delivering the physical products, PSW will provide software functions for Primary Reserve (FCR), Secondary Reserve (aFRR), and Rapid Frequency Reserves (FFR).

Statnett, which is responsible for the system in Norway, administers the balancd market. They buy flexibility from various actors, in this case, PSW, to ensure that the power system is always in balance.

By entering the Norwegian balance market, we will have both short-term and long-term revenue streams for our battery storage connected to the Nordic power grid.

In recent years we have supplied battery storage systems for backup power to the Swedish market, which has given the company valuable experience. Balancing markets play a crucial role in the power system to maintain balance and ensure reliable power supply.

The first project in Norway will be installed at Ågotnes and includes a 2MW battery system, solar panels, and infrastructure for fast charging.

The company has developed an energy control platform to optimize energy resources and make it possible to provide balance and ensure a secure power supply.

The project is expected to be completed in Q1 2025.