As Sweden’s energy system races through one of the fastest storage build-outs in Europe, it’s the perfect moment to take stock of who’s actually leading the charge. Our latest overview of the top 20 battery energy storage projects in Sweden reveals a market that has shifted from cautious pilot activity to industrial-scale deployment in barely two years. It is now entering its first real phase of consolidation.
The top 20 projects now represent 822 MWh of cumulative capacity, with the newest builds dwarfing earlier installations and signalling a clear shift toward large-format, multi-market assets.
Several themes stand out:
- Capacity has exploded from ~80 MW in 2022 to 610+ MW by late 2024, powered initially by exceptional FCR-D revenues.
- FCR-D saturation and falling prices are causing developers to shift toward aFRR, mFRR, day-ahead and intraday trading, and algorithmic strategies are becoming the norm rather than the exception.
- Scale is rising sharply: operational projects average 31.5 MWh, while new builds jump to 55.5 MWh, signalling a market maturing at speed.
- Ownership is consolidating around a handful of heavyweights: Delta Capacity, Neoen, Vattenfall, Ellevio, and Ingrid Capacity, who together control nearly 80% of all capacity in the top 20.
- Geography matters:
- The southern (SE3) and central (SE4) electricity zones dominate with 85% of all top-20 projects, forming the commercial sweet spot driven by volatility, congestion, and strong arbitrage spreads.
- While the mid-northern zone (SE2) hosts just a few large strategic assets, primarily for grid stability and renewables balancing rather than pure trading returns.
For the full rankings, project specifics, and a closer look at the BESS market dynamics in Sweden, download the complete Top 20 list below!
For a deeper dive into this vibrant and fast-growing market, join us at the 3rd Solarplaza Summit Sweden PV & Storage, taking place on 5 March 2026 in Stockholm. The event will offer in-depth discussions on investment trends, energy trading strategies, policy updates, and bankability solutions, while also covering the rise of PV and BESS portfolios, the emergence of hybrid PPAs, and the expanding revenue opportunities across ancillary and flexibility markets.
