Flower Enters 180 GWh PPA with Locus Energy to Supply Stable Clean Power to Businesses

Continuing to lead the way towards the energy system of tomorrow, Flower expands its market-leading portfolio with yet another milestone asset integration. By securing 180 GWh per year of wind power through a physical pay-as-produced PPA with SEB Nordic Energy’s portfolio company Locus Energy, Flower reinforces its position as the sector’s most diverse and largest flexibility provider, manifesting its mission to accelerate renewable energy growth.

“We have sincerely appreciated the dialogue with Locus Energy. This agreement underscores our commitment to providing scalable financing solutions for renewables by leveraging our leading technology platform and flexible assets as tools to take responsibility for and manage the profile risk in a systematic way - the missing piece in the energy transition,” says John Diklev, founder and CEO of Flower.

With Flower’s market-leading, AI-powered trading and optimization platform, the energy tech company maximizes the value of wind power. By using its flexible portfolio, which includes energy storage assets, the volatility can be mitigated as uncertain renewable energy is transformed into a reliable and plannable energy source. 

“This partnership with Flower marks an important step in our strategy to future-proof our assets and maximize the value of the energy we produce,” says Mattias Söderqvist, Partner and Deputy CEO of Locus Energy. “We have invested in enhanced controllability and, through this setup with Flower, gain access to real-time control and optimization. This improves our ability to manage risk, secure revenues, and operate our wind farms with greater flexibility and precision. This is exactly the type of solution needed to accelerate the energy transition in a sustainable and profitable way.”

A stepping stone for Flower’s next-gen PPAs

The long-term agreement with Locus Energy serves as a foundation for Flower’s upcoming Power Purchase Agreement (PPA) solution, a breakthrough offering that leverages its large flexibility portfolio and AI-powered technology to manage the still unresolved risks associated with renewables. Efficiently managing renewable power, like the acquired wind power from Locus Energy, Flower aims to deliver next generation PPAs to energy consumers at affordable prices with extended contract durations, reshaping the market for renewable energy agreements.

“Last generation’s Baseload and Pay-as-Produced PPAs have demonstrated scalability limitations, placing profile risks either on consumers or producers. With next generation PPAs, Flower, as the offtaker, can leverage our flexible portfolio and cutting-edge technology to enhance stability and scalability for renewables, delivering affordable and reliable green electricity to industries and consumers. We see this as a crucial step in accelerating the renewable build-out in Sweden and across Europe,” concludes John Diklev, founder and CEO of Flower.

The 11 wind farms added to Flower’s portfolio are spread across Sweden’s price regions SE2, SE3 and SE4, with the largest wind farm generating 65 GWh per year.

About SEB Nordic Energy 
SEB Nordic Energy is focusing on direct investments in renewable energy infrastructure assets in the Nordic region. Investments are being made in small-scale hydropower, wind power, solar energy, battery storage and energy efficiency solutions, both through new construction and through upgrading of existing facilities to increase efficiency and energy production. The fund is open to professional investors with an investment horizon of more than 15 years and is a so-called Article 9 fund with sustainable investments as its objective.

About Locus Energy 
Locus Energy is a portfolio company of the Article 9 fund SEB Nordic Energy with access to Nordic institutional capital. Locus Energy invests in assets for sustainable local energy production that can be upgraded with new technology to accelerate development and is currently present through direct investments in 61 Nordic municipalities.