Helios has signed a deal with Commerz Real to provide a turnkey delivery of the two largest utility scale solar parks in Sweden to date, totalling 70MW.
Helios Nordic Energy, in which Magnora has a 40% stake, will deliver the project rights, construction management and supply the commercial and technical management services for the developments.
In addition, Helios has managed the engineering, procurement and construction (EPC) process and handled the grid connection agreement.
The first plant will have an installed capacity of approximately 21Mp and is located in Vasteras municipality.
The second park is located in Tierp municipality and will start construction later this year, subject to landing final building permits and will have an installed capacity of 48MW.
The closing for the Tierp park is to take place in the autumn of 2022 once all the closing conditions have been fulfilled.
This transaction represents one of the biggest transactions to date on the Swedish solar energy market.
“The projects are the first of their kind in Sweden and are being built completely without subsidies and on market conditions, to the great benefit for Swedish electricity consumers and not least for the climate”, said Peter Nygren, board member of Helios.
Helios is a Swedish developer of solar and battery storage projects and had secured land for over 30 projects in Sweden and recently Lithuania and Latvia. Helios’ pipeline is above 1.5GW.
Commerz Real is the manager for real asset investments of German Commerzbank with €35bn in assets under management.
The company has been investing in solar energy since 2005 and in wind energy plants since 2016 and manages more than 50 solar power stations and over 30 onshore and offshore wind farms with a total installed capacity of more than 1.4GW.
The parties have agreed to not disclose the financial details of the transactions.