Finnish sustainable technology firm Capalo AI has signed an agreement to manage HAG Energy’s hybrid park in Ioannina, marking its entry into the Greek market.
Capalo AI is now fully licensed by the Greek Regulatory Authority for Energy, Waste and Water (RAAEY) to operate as a renewable energy sources aggregator in Greece with a capacity of 1.3 GW, and has signed its first optimization agreement in Greece with HAG Energy for a hybrid park located in Ioannina, according to the company.
Capalo AI will optimize and trade the hybrid park, including a 5 MW / 10 MWh BESS and 4 MWp of solar PV generation capacity. The hybrid park is part of a wider portfolio of hybrid power plants from HAG Energy, comprising 13.75 MW/27.5 MWh of battery energy storage systems (BESS) and 11.5 MWp of solar parks, the firm added.
The Finland-based company specializes in optimization, trading, and route-to-market services for stand-alone and co-located BESS. Capalo AI currently operates in six markets in Europe: Bulgaria, Finland, Latvia, Lithuania, Poland, and Sweden.
It plans to enter Estonia, Portugal, Romania, and Spain later this year.
In Greece, Bulgaria, and Romania, Capalo AI has also partnered with an offtake counterparty to provide customers with bankable, fixed-revenue contracts such as floor and tolling agreements.
Capalo AI sees Greece as its key market and a key market for BESS due to the scale of renewable energy curtailment, the Greek government’s commitment to new storage installations, and the significant volume of the project pipeline.
Capalo AI CEO Henri Taskinen said that starting operations with a license and partnership with HAG Energy is an important first step in market entry.
“We look forward to expanding our presence here at speed and offering our multimarket trading and optimization at scale,” he added.
The company currently manages 1.5 GW of batteries and 460 MWp of solar, of which 500 MW and 300 MWp are already live under trading and optimization.
