Press Release: Sympower's Strategic BESS Expansion

Accelerating the next phase: BESS and M&A

With over 2.7GW of flexible distributed energy assets under management across Europe, Sympower has established itself as a market leader in energy flexibility. This latest investment marks a pivotal step in scaling the company’s presence in BESS, expanding its acquisition pipeline, and advancing its pan-European growth. The funding will enable Sympower to build on its track record with grid-scale battery projects in Sweden and Finland and extend its capabilities to play a central role in Europe’s evolving flexibility ecosystem. .

Sympower currently manages over 0.5GW of battery energy storage assets in the Nordics, and has recently announced the rollout of its BESS optimisation services in Greece. The company is now targeting other promising European battery markets, drawing on a decade of flexibility expertise and local presence to fast-track BESS project delivery.

“This strategic investment allows us to unlock the next phase of our BESS vision and unlock new acquisition opportunities to strengthen our offering”, explained Simon Bushell, CEO and founder of Sympower. “Having PGGM on board is a powerful vote of confidence from one of Europe’s most respected institutional investors. Their long-term, impact-driven investment approach is deeply aligned with our mission to build a more sustainable and resilient energy system.”

This extension solidifies Sympower’s position as a key player in the European energy flexibility market. The company’s battery storage and demand-side flexibility will play a central role in supporting Europe’s energy transition by creating strong and resilient electricity grids.

With over €250 billion in pension assets under management and a nearly €7 billion energy infrastructure portfolio, PGGM is known for backing long-term, sustainable infrastructure solutions. Their investment in Sympower is part of their broader strategy to accelerate the decarbonisation of Europe’s energy system while generating responsible returns for its participants.

“Sympower has a highly skilled team that has built a leading flexibility platform. Our investment will contribute to the next phase of the company’s growth and into new markets. This investment in Sympower fits very well with the Climate and Energy Transition Solutions (CETS) mandate given to us by Pensioenfonds Zorg en Welzijn (PFZW).” said Tim van den Brule, investment director at PGGM Infrastructure. “We expect Sympower to contribute to good returns for the benefit of PFZW participants and enable further incorporation of renewable resources in the electricity mix.''

CETS is a recently launched EUR 1 billion impact strategy. EUR 800 million is dedicated to direct equity and the investments are actively managed by the team. The objective of CETS is to make impact through (innovative) investments in the energy transition that contribute to measurable avoiding CO2 emissions. The CETS mandate will support the energy transition in developed Europe by investing in emerging leaders and scaling proven technologies and services. Sympower is the fifth investment in the CETS mandate, other investments include SCW Systems, Carbon Collectors and RIFT.

PGGM will join Sympower’s Supervisory Board to help steer the company’s long-term strategic growth and strengthen its governance. Sympower is also supported by other impact investors, including A&G Energy Transition Tech Fund, Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital.

“The next chapter for Sympower is all about scale: strategic M&A, deeper BESS integration, and new markets,” added Bushell. “This round gives us the capital and the confidence to accelerate, and with PGGM by our side, we’re better positioned than ever to help Europe build a cleaner, smarter energy system.”