Magnora’s portfolio company Helios has divested two Sweden-based solar parks to Norwegian IPP Solgrid – a company owned by Norwegian utility companies Akershus Energi, Østfold Energi and others.The two ready-to-build PV plants with a combined capacity of 32 MWp and were sold for an undisclosed sum.
Both projects are located in SE3, Sweden, and have been consented by the County Administrative Board and are expected to have grid connection agreements ready within six months.Following their scheduled completion in 2023/24, the two parks could lead to avoidance of approx. 150 tonnes of carbon dioxide emissions every year.
The generated electricity will meet the annual electricity requirements of about 4,000 Swedish households.Helios chief executive Andreas Tunbjer said: “We are happy to make this deal with Solgrid, which is a company with great ambitions for the Nordic Market.
“Solgrid as an IPP is a good match for Helios as a project developer.”
Helios board member Peter Nygren added: “This transaction comes amidst a massive push from the European Commission through its initiative RePowerEurope with goals of 30GW by the end of 2022 and 1TW of solar capacity within 2030.
“We are certain that the EU’s goal of becoming independent of Russian oil and gas is fundamentally positive for Helios as a company and the solar industry at large.”
Magnora chief executive Erik Sneve said: “As we have communicated previously, Helios’ substantial pipeline of projects meets extensive interest from investors.
“In less than six months Helios has successfully closed deals totaling 146 MWp to quality investors such as OX2, Commerz Real and now Solgrid.
“Helios’ substantial bank of projects is expected to lead to multiple transactions in the coming years. We are extremely pleased with the development of the company.”
Helios is a Swedish developer of solar and battery storage projects and have secured land for over 37 projects in Sweden and recently Lithuania and Latvia.
Helios’ pipeline is currently above 1.62 GW.