Dovre and SENS have signed a share purchase agreement regarding the sale of 85 MW Pyhäsalmi BESS project

Dovre Group Plc ("Dovre") and Sustainable Energy Solutions Sweden Holding AB (“SENS”) have, under an agreement effective as of 18 January 2026, agreed to sell 100% of the shares in Pyhäsalmi BESS Oy to Prime Capital AG’s renewable energy fund. Dovre’s ownership interest in the project company was 45%.

Dovre announced its entry into the BESS (Battery Energy Storage System) project in a press release on 3 June 2024, with the objective of developing the project to a Ready to Build stage. The project is located in Pyhäjärvi, adjacent to the closed Pyhäsalmi mine. The project reached a RTB stage in late 2025, making it timely to proceed with its sale for construction. The ready-to-build energy storage facility has a capacity of 85 MW and an energy storage capacity of 170 MWh. The facility will contribute to balancing the grid and enhancing system flexibility.

Dovre’s share of the purchase price at closing is estimated to be approximately EUR 2.1 million. The final purchase price will be confirmed by the end of April, and Dovre will issue a separate release once the final price has been confirmed. In accordance with the terms of the transaction, the sellers may also be entitled to an additional earn-out payment if the facility’s production is launched by 1 July 2027.

The transaction does not change the company’s previous assessment of its insolvency or its ongoing evaluation of the possibility of filing for corporate restructuring.