Finnish IPP Olana Energy Oy has made a final investment decision (FID) for a grid-connected energy storage project in Šalčininkai, Lithuania. The 70 MW / 140 MWh energy storage project (BESS) will be one of the largest in the Baltic region and marks Olana Energy’s first step into the Lithuanian market. The target date for commercial commissioning (COD) is Q4 / 2026.
Lithuania and the other Baltic states have been disconnected from the Russian grid, which, together with the rapidly increasing penetration of renewable energy, creates strong demand for energy storage projects in the region.
The targeted Commercial Operations Date (COD) for the project is set for Q4 2026.
The project has been designed with a power and capacity oversizing strategy, ensuring full 70 MW power delivery at the point of interconnection (POI) and two-hour duration capability to enable optimal performance. This long-term performance approach supports dependable grid services, including frequency regulation, capacity reserve, renewable integration, and reliable financial performance.
Olana Energy’s experienced project team will manage the construction phase and perform system integration, working with top-tier partners, equipment suppliers, and local authorities to ensure the highest standards of quality, safety, and reliability.
“We are proud to announce our first FID outside of Finland. Lithuania represents both a healthy and strategically important market for Olana Energy,” Ville Kaituri, Founder of Olana Energy told The Voice of Renewables. “This project is an important step in our growth outside Finland and aligns with our goal of delivering high-quality projects in attractive and forward-looking energy markets.”
Grid-scale battery storage projects such as Šalčininkai are cornerstones of the energy transition, enabling higher shares of renewable energy, reducing CO₂ emissions, and supporting system resilience. Strategically located and professionally operated BESS assets can displace fossil peakers, stabilize prices, and increase energy security.
Olana Energy Oy is a Finnish IPP, developing, building, and owning utility-scale battery projects. In addition to the Šalčininkai project, the company’s portfolio includes 25 MW of operational projects in Finland and a total pipeline of over 1 GW of projects in Finland and other emerging markets.
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