Suntrade Group
Suntrade Group AB is a Stockholm-listed Nordic battery energy storage developer, building utility-scale BESS projects across Sweden, Finland, Lithuania, Poland, and Romania, and serving grid operators, utilities, and Chinese strategic partners through flexible developer/owner/operator/EPC roles.
- Company typePublic
- Founded2024
- HeadquartersStockholm, Sweden
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Suntrade Group does
Suntrade Group AB (publ) is a Stockholm-headquartered developer of battery energy storage systems (BESS) and, to a lesser extent, solar energy assets, targeting grid operators, utilities, and energy companies across the Nordics and wider Europe. Originally created via the 2024 reverse takeover of Suntrade AB by Taurus Energy AB — a former bioethanol R&D shell — the company was renamed Suntrade Group AB in October 2024 and re-listed on Spotlight Stock Market under ticker STRD B. Suntrade originates, develops, structures, and operates utility-scale energy storage projects, with a stated development pipeline of 4.5 GW spanning five European markets (Sweden, Finland, Lithuania, Poland, and Romania). The company plays flexible roles in each project — as developer, owner, operator, or EPC contractor — and sells or co-invests in projects at optimal stages with institutional and strategic partners.
The company's core offering is grid-stabilising battery energy storage parks designed to deliver balancing, frequency regulation, renewable integration, and ancillary grid services. Suntrade employs a technology-agnostic, vendor-neutral approach to hardware and software selection, choosing optimal components per site rather than locking into a single supplier stack. Battery modules and integrated control systems are sourced primarily from Chinese partners HFIE and Linyang, with 24/7 monitoring delivered through third-party partners to maximise uptime and yield. The company has integrated the GB360 digital platform (via Wattly Group AB) to standardise project data structuring, analytics, and investor reporting across the portfolio. Headline projects include the Marmaverken facility (commissioning June 2026 in partnership with Ellevio and Svenska kraftnät), Gävle Forsbacka (15 MW), Nordanstig Strömsbruk (10 MW), Åmål (4 MW), Rosersberg (2 MW), Ramneå (5 MW), the 100 MW HFIE Nordic portfolio, and a 60–200 MWh project in Karelen, Finland with Forus OY.
Revenue is generated through four streams: (1) development fees and project sales to enterprise buyers (e.g., up to 100 MW framework deal with Oddes AB, 500 kW sale to RenewBee GmbH); (2) long-term managed service contracts — most prominently a 20-year agreement with HFIE valued at up to 1 billion SEK, expected to generate ~50 MSEK annually when fully deployed from Q1 2027; (3) JV/SPV ownership stakes yielding recurring distributions (52% in Nordeway Energy JV, 25% in China Gas Sigtuna SPV, 10% in Linyang/China Gas Nordic pipeline); and (4) retained solar generation producing ~2.5 MSEK in 2025. Go-to-market is driven by direct enterprise sales led by CEO Daniel Hedström and CIO Gustav Berglund, participation in major trade events (Intersolar Europe, SNEC Shanghai), and deep relationships with Chinese strategic partners (HFIE, Linyang, China Gas) that provide technology, capital, and distribution access to Nordic markets.
Suntrade Group firmographics
Firmographics- Name
- Suntrade Group
- Legal name
- Suntrade Group AB (publ)
- Website
- https://suntrade.se
- Company type
- Public
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Suntrade Group AB is a Stockholm-listed Nordic battery energy storage developer, building utility-scale BESS projects across Sweden, Finland, Lithuania, Poland, and Romania, and serving grid operators, utilities, and Chinese strategic partners through flexible developer/owner/operator/EPC roles.
- Ownership category
- akta.pro rank
Suntrade Group industry classification
Industry- Product category
- Battery Energy Storage Infrastructure
- NAICS
- Electric Power Generation (22111), Solar Electric Power Generation (221114)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
- akta.pro secondary industries
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)
Keywords
Where Suntrade Group is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices2 records
Markets served
Suntrade Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Infrastructure, Supply Chain, Operations, Marketing or Sales, Technology or R&D
Revenue model
- BESS Project Development & Sales: Suntrade develops battery energy storage projects from origination through construction-ready (RTB) stage, then sells or co-invests in them. Revenue is generated through project sales, co-investment returns, and development fees. Project sales include deals with partners such as Oddes AB (up to 100 MW), RenewBee GmbH (500 kW), and other strategic buyers.
- Long-Term Service Contracts: Suntrade enters 20-year service and partnership agreements (e.g., with HFIE for 100 MW Nordic BESS, with China Gas for Finland projects) generating recurring annual revenue. For example, the HFIE 100 MW deal yields approximately 50 MSEK annually when fully deployed, while the 9.8 MW pilot generates 7.5 MSEK per year.
- Joint Venture / SPV Ownership: Suntrade takes minority or majority stakes in Special Purpose Vehicles (SPVs) for BESS projects. For example: 52% stake in Nordeway Energy JV (1 MW/2 MWh project, ~3 MSEK annual return); 25% stake in China Gas Sigtuna project (2 MW/4 MWh, ~6 MSEK/year from Q1 2026); 10% stake in Linyang/China Gas Nordic pipeline (~8.75 MSEK/year).
- Solar Project Revenue: Suntrade retains some solar energy assets generating approximately 2.5 MSEK in revenue during 2025. The company is evaluating whether to retain or divest these assets as part of its strategic focus shift to BESS.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Suntrade Group product offering
Product offeringCore offering
Suntrade Group develops, structures, and operates large-scale battery energy storage system (BESS) and solar energy assets for utilities, grid operators, and energy companies across the Nordics and wider Europe. The company takes flexible roles as developer, owner, operator, or EPC contractor, manages a 4.5 GW project pipeline across five European markets, and sells ready-to-build (RTB) projects to institutional investors and strategic partners. It generates revenue through project development fees, long-term service contracts (up to 20 years), and joint venture equity returns.
Product overview
Suntrade Group AB operates as a battery energy storage and solar solutions company with a primary focus on large-scale BESS (Battery Energy Storage Systems). The company's product portfolio centers on BESS technology for grid stabilization and energy storage, supplemented by retained solar projects. The company offers project development services with flexible roles (developer, owner, operator, or EPC) and provides grid stabilization services. Notable projects include highlighted installations in Gävle Forsbacka (15 MW), Nordanstig Strömsbruk (10 MW), Åmål (4 MW), Rosersberg (2 MW), and Ramneå (5 MW), as well as major projects like Marmaverken and the 100 MW Nordic partnership with HFIE. The technology-agnostic approach selects optimal hardware and software for each site.
Differentiator
Problem solved
Functional benefit
Products and services
- Battery Energy Storage Systems (BESS) Large-scale battery energy storage systems providing grid stability, frequency regulation, and balancing services for utilities, grid operators, and energy companies. BESS parks are delivered as utility-scale installations from 500 kW to 100 MW+ with technology-agnostic hardware and software selection.
- Solar Energy Solutions
Quantifiable outcome
- Pipeline grew from 500 MW to 4.5 GW (800% increase) across five European markets.
- +4 more outcomes
Companies that use Suntrade Group
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles4 records
Suntrade Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Suntrade Group partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, flagship and minor.
- Forus OYcoreSuntrade OY (Finnish subsidiary) partnered with Forus OY (Helsinki-based) to develop a BESS project in Karelen, Finland — Suntrade's first cross-border energy storage project. Initial capacity: 60 MWh, expandable to 200 MWh pending grid upgrade by Fingrid from 110 kV to 400 kV (by 2030). Construction planned to begin in early 2026. This marks Suntrade's entry into the Finnish market.
- Oddes ABcoreSuntrade signed a framework agreement with Oddes AB (Malmö-based) for the progressive sale of RTB-ready BESS connection projects totalling up to 100 MW. The agreement is expected to release 3–5 MSEK in the coming quarters for Suntrade to reinvest in priority projects. This is part of Suntrade's capital recycling strategy.
- Nordeway Energy ABcoreSuntrade and Nordeway Energy AB formed a joint venture for BESS development. First project: 1 MW/2 MWh facility in Tanumshede using ZOE cabinet batteries with 52% Suntrade ownership. Expected annual return of ~3 MSEK to the JV. The project was expected to be operational by October 2025 with validation from Svenska kraftnät.
- China GasflagshipChina Gas (Hong Kong Stock Exchange: 0384.HK), one of China's largest energy suppliers distributing natural gas and LNG across 200+ cities, partnered with Suntrade for Nordic expansion. First project: 2 MW/4 MWh BESS in Sigtuna (Q4 2025, 6 MSEK/year from Q1 2026, Suntrade 25%). Finland expansion also planned. China Gas established a subsidiary in Sweden with Suntrade as strategic partner for its Nordic BESS rollout.
- RenewBee GmbHcoreSuntrade sold a 500 kW battery storage system to German company RenewBee GmbH for installation in Bålsta, Håbo kommun, Sweden. Byhmgard AB acts as the aggregator in the project. Initial revenue of approximately 250,000 SEK for Suntrade. RenewBee plans to develop ~10 BESS projects per year in Sweden.
- HFIE (Hefei Fortune Intelligent Equipment Co., Ltd.)flagshipSigned a 20-year joint venture agreement with HFIE (listed on Shanghai Stock Exchange) for 100 MW of battery energy storage in the Nordics, with deliveries starting from H2 2025/early 2026. HFIE provides lithium iron phosphate battery modules and integrated control systems. Estimated annual revenue for Suntrade of ~50 MSEK when fully deployed, totalling up to 1 billion SEK over the contract lifetime. An initial pilot project of 9.8 MW (signed April 2025) generated the foundation for this expanded deal, announced at Intersolar Europe in May 2025.
- Wattly Group ABcoreSuntrade entered a collaboration and confidentiality agreement with Wattly Group AB to use the GB360 (GreenBridge 360) digital platform for structuring and managing its BESS project portfolio. The platform standardises project data collection, organisation, and analysis, improving internal operations and investor dialogue quality. GB360 is designed for energy sector projects to make them more comparable and evaluable for capital market actors.
- Byhmgard ABminorSuntrade signed a Letter of Intent in May 2025 to acquire 100% of Byhmgard AB (founded 2021, ~160 MSEK revenue, 20 employees, 270+ active BESS sites, proprietary EMS with real-time optimisation) for 300 MSEK via new share issuance. The acquisition process was terminated in June 2025 after due diligence. Byhmgard continued as an operational partner in the RenewBee GmbH project as aggregator.
- Linyang Energy Co.coreSuntrade signed a Letter of Intent with Linyang Energy (global leader in solar, BESS, and smart grids; 5 GW installed solar, 6 GWh storage capacity) for development of multiple projects with a combined capacity of 300 MW in renewable energy. A subsequent deal with Linyang and China Gas (October 2025) valued at ~87.5 MSEK/year with Suntrade entitled to 10% of turnover (8.75 MSEK/year) over 20 years. Linyang was featured in CCTV coverage of Suntrade's Swedish projects.
- ElleviocoreEllevio is the distribution system operator (DSO) partnering with Suntrade on grid connection and power-up of BESS projects including Marmaverken and other sites. Ellevio performs grid connection, power-up, and validation testing for Suntrade's BESS assets.
- Svenska kraftnätcoreSvenska kraftnät (SVK) is the Swedish transmission system operator (TSO) validating Suntrade's BESS assets for grid balancing and support services. Projects like Marmaverken undergo validation by SVK before becoming operational and revenue-generating.
Scale indicators8 records
Recent moves12 records
Expansion highlights6 records
Suntrade Group competitors and assessment
Company assessmentBroad incumbents
- Ørsted: Danish renewable energy major with a growing battery storage portfolio supporting offshore wind and grid balancing in Northern Europe. Comparable in large-scale renewable-integration storage strategy.
- Vattenfall: Major Swedish state-owned utility with growing battery storage and renewable integration activities. Competes with Suntrade for grid-balancing mandates and large-scale BESS deployment in Sweden and the Nordics.
- Fortum: Finnish utility with significant renewable generation and energy storage initiatives. Operates in the same Finnish market Suntrade is entering with China Gas, and competes for grid-services contracts.
- Wärtsilä: Finnish energy storage and power systems incumbent with a broad portfolio including grid-scale BESS solutions. Comparable storage technology and Nordic presence, but operates as a much larger diversified industrial.
Emerging players
- Altris: Swedish sodium-ion battery developer serving the European stationary storage market. Comparable in Nordic battery storage ecosystem focus, though upstream in the value chain as a cell technology supplier rather than project developer.
- Capalo AI: Finland-based BESS optimizer and developer using AI to maximize revenues from battery storage assets. Overlaps with Suntrade's vendor-neutral, performance-led positioning and Nordic market.
Direct peers
- Ingrid Capacity: Swedish BESS developer building utility-scale battery parks across the Nordics to provide grid balancing and flexibility services. Most directly comparable to Suntrade in geography, customer segment and product offering.
- Cactos: Finland-based BESS operator offering behind-the-meter and grid-scale battery storage. Directly comparable to Suntrade's Nordic expansion into Finland and its grid-balancing value proposition.
- Flower: Swedish developer of battery energy storage parks targeting grid services in the Nordics. Operates with a similar developer/owner/operator model and competes for the same grid-connection and TSOs partnerships as Suntrade.
- Polarium: Swedish battery energy storage provider serving telecom, commercial and grid-scale customers with lithium-ion BESS solutions. Comparable in core BESS product and Nordic footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Suntrade Group social profiles
Digital presenceSuntrade Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Suntrade Group leadership team
Management profileNumber of profiles
Profiles5 records
Suntrade Group subsidiaries and ownership
Company hierarchySubsidiaries4 records
Suntrade Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Suntrade Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Suntrade Group
What does Suntrade Group do?
Suntrade Group develops, structures, and operates large-scale battery energy storage system (BESS) and solar energy assets for utilities, grid operators, and energy companies across the Nordics and wider Europe. The company takes flexible roles as developer, owner, operator, or EPC contractor, manages a 4.5 GW project pipeline across five European markets, and sells ready-to-build (RTB) projects to institutional investors and strategic partners. It generates revenue through project development fees, long-term service contracts (up to 20 years), and joint venture equity returns.
Is Suntrade Group a public or private company?
Suntrade Group is a public company. It is classified as public and is currently operating.
When was Suntrade Group founded?
Suntrade Group was founded in 2024. It employs 1 to 10 people.
Where is Suntrade Group based?
Suntrade Group is headquartered in Stockholm, Sweden, in the Europe region.
How does Suntrade Group make money?
Four revenue lines are on record. BESS Project Development & Sales are the primary driver. The others are long-Term Service Contracts, joint Venture / SPV Ownership and solar Project Revenue.
Who are Suntrade Group's main competitors?
Broad incumbents on record are Ørsted, Vattenfall, Fortum and Wärtsilä. Emerging players are Altris and Capalo AI. Direct peers are Ingrid Capacity, Cactos, Flower and Polarium.
Does Suntrade Group have an API?
No public API is recorded for Suntrade Group.
What industry is Suntrade Group in?
Suntrade Group's product category is Battery Energy Storage Infrastructure. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAMABAB, Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System). Its NAICS code is 22111 and its SIC code is 4991.