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