Dovre joins the Pyhäsalmi renewable energy consortium’s 85 MW BESS solution

Dovre Group Plc                Press release                        June 3, 2024, at 9.30 a.m.

Dovre joins the Pyhäsalmi renewable energy consortium’s 85 MW BESS solution

Dovre Group joins the Callio renewable energy consortium in Pyhäsalmi consisting of three separate projects. Dovre’s first commitment is to participate in developing an 85 MW Battery as an Energy Storage System (BESS) adjacent to the former Pyhäsalmi copper and zinc mine. The next two projects under the development of Callio are photovoltaic solar parks (PV) and an Underground Pumped Hydroelectric Storage (UPHS) facility in the actual mine, both for which Dovre has an option and interest to participate in.

The consortium will consist of Callio development company owned by the municipality of Pyhäsalmi, the Sustainable Energy Solutions Sweden Holding AB (publ) and Dovre Group Plc. The investment of Dovre is sufficient to maintain and further develop the BESS project to a Ready to Build (RTB) phase, as well as the UPHS project until such time that final decision must be made regarding the UPHS construction project later this year. The UPHS provides much higher efficiency rate compared to hydrogen storage systems, and has raised large interest among the investors for the actual construction project.

Ilari Koskelo, Vice Chairman of Dovre, comments:
"For the past few years Dovre’s focus in the Finnish market has been in the renewable energy development and construction business together with group companies Renetec Oy and Suvic Oy. I believe that the concentration of different renewable energy opportunities in the Pyhäsalmi area is innovative and provides energy production efficiency for Dovre and other market participants now and in the future.”

Henrik Boman, CEO of SENS, comments:
"We are excited to have Dovre Group Plc join our consortium as we see the formation of a new energy cluster in Finland. Their participation validates the appeal and effectiveness of SENS's solutions and expertise. With this partnership, we are entering the Finnish market confidently, supported by the trust our partners place in us. We are enthusiastic about our role in delivering sustainable energy storage to the region and contributing to its clean energy future.”

For further information, please contact:
Ilari Koskelo
Vice Chairman of the Board, Dovre Group Plc
Tel. +358 40 510 8408

Henrik Boman
CEO, Sustainable Energy Solutions Sweden Holding AB (SENS)
Tel. +46 70 224 63 61

Dovre Group is a trusted global provider of project management services with locations across Canada, Finland, Norway, Singapore, Sweden, and the United States. Our professionals execute assignments all around the world. In 2023, the Group’s net sales were EUR 196.7 million and its operating result was EUR 7.4 million. The Group’s parent company Dovre Group Plc is domiciled in Finland and listed in Nasdaq Helsinki (symbol DOV1V). Dovre takes an active part in the green transition and contributes to an environmentally and socially sustainable future. Website: www.dovregroup.com

About SENS
Sustainable Energy Solutions Sweden Holding AB (publ) (SENS), provides sustainable energy solutions enabling the transition to a fossil-free and CO2 neutral energy mix both locally and internationally. SENS develops, designs, constructs and sells large-scale energy projects combining renewable energy sources with next generation energy storage technologies such as underground pumped hydro storage (UPHS) and/or battery energy storage systems (BESS). The company also conducts technical advisory consultancy services within energy storage and energy systems optimisation. The company is listed on NGM Nordic SME under the short name SENS.

Distribution:
Nasdaq Helsinki
Major media
www.dovregroup.com

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