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Lehto Group Plc
Inside information
16 January 2026 at 18:00 (Finnish time)
Lehto Group Oyj ("Lehto") has today signed a business transaction agreement (the "Agreement"), pursuant to which Lehto or a subsidiary established by it will purchase (the "Transaction") from HPF Kalajoki Oy the rights, agreements and permits that enable the construction of a large electricity storage facility in Kalajoki.
The Transaction will transfer to Lehto, among other things, land lease agreements and a 30 megawatt electricity connection agreement. The connection capacity is currently 16 megawatts and will increase to 30 megawatts upon completion of the transmission line under construction, estimated at the end of 2027. The connection agreement includes an option to increase the connection capacity to up to 100 megawatts.
The land lease rights cover a total area of approximately 35 hectares, of which approximately 33 hectares have been reserved for the construction of a solar park and approximately 1.7 hectares for the construction of a substation and electricity storage facility.
Lehto intends to build a substation and a 30-megawatt electricity storage facility in the project area in two phases. In order to utilize the agreements and rights related to the solar park, Lehto is seeking partners. The substation to be built in the area will also be able to serve the solar park that may be built later.
The final implementation of the Transaction requires the fulfillment of several conditions, such as obtaining legally binding building permits and the implementation of the transfers of land lease and connection agreements.
Lehto will immediately begin preparing technical plans related to the project. Lehto estimates that the conditions for the final implementation of the Transaction could be fulfilled in the second quarter of 2026 and the construction of the substation and electricity storage facility could start during the rest of the year. The electricity storage facility could be put into productive use approximately during the first half of 2027.
The total investment in the project rights, substation and 30-megawatt electricity storage facility in the first phase is estimated to be approximately EUR 15 million. The investment is intended to be financed through a bank loan and a leasing or installment arrangement. The company currently has no binding financing agreements for the project.
Additional information:
Lehto Group Plc
Hannu Lehto, CEO
+358 500 280 448