OSLO. NORWAY: Magnora‘s portfolio firm Helios entered its largest deal to date with Commerz Real, by promoting 5 large scale PV projects with a complete capability of 246 MWp.
The projects are all located in SE3 in Southern Sweden and are estimated to be ready-to-build and delivered to Commerz Real in 2023 and begin manufacturing in 2024.
The electrical energy produced equals the consumption of roughly forty nine 200 common households and the projects can be found in southern Sweden the place it’s wanted the most.
The 5 parks are in development phase and to be constructed and connected to the grid in 2023 and 2024. Four of the parks are within the Greater Stockholm space and one outside of Gothenburg. Helios is accountable for persevering with development till ready-to-build, construction management, and for operational administration of the facilities whereas in production.
“We are very happy to strengthen our partnership with Commerz Real through this transaction. Together we have confirmed that large scale PV is a viable supply of electrical energy additionally in Sweden,” says Andreas Tunbjer, CEO of Helios Nordic.
This concludes the second deal between Commerz Real and Helios this year, the place the primary deal of two projects was settled in early May. One of those projects, the King’s Roar Project outside of Västerås, is the largest PV park under construction in Sweden to date and can be connected to the grid in second quarter 2023.
“Solar is rising rapidly, and we show as soon as extra that the worldwide fund capital is able to make investments within the Swedish energy market. This is nice information for Sweden because it contributes to bringing down cost for consumers,” says Magnus Rahm, Chief Project Officer of Helios Nordic.
The transaction marks the fourth for Helios this year. In a complete of 15 projects (620 MWp) have been sold by Helios since December 2021. Magnora’s net share is 248 MW. The transaction is topic to final permits however features a significant payment at signing.
“Magnora is very happy with the closing of this transaction, which in phrases of the numbers concerned is bigger than the earlier transactions. As the earlier transactions concluded by Helios over the previous months with respected energy companies, this confirms the standard and worth of Helios’ development portfolio.
With the positive price outlook for inexperienced electricity, the market conditions will likely proceed to be favorable for these types of transactions,” says Erik Sneve, CEO of Magnora.
“The transactions are line with Magnora’s asset light enterprise model. Solar PV will be a key component within the European energy provide combine within the years to come because the levelized cost of energy for photo voltaic PV has become very aggressive in recent years after a significant drop in capex over the final decade,” says Torstein Sanness, Executive Chairman of Magnora.
Helios Nordic Energy AB is a number one Swedish developer of photo voltaic and battery storage projects. The firm has secured land for over 70 projects in Sweden, Latvia and Lithuania. Helios pipeline is currently above 2.3 GW. Helios has already commenced construction works of the primary photo voltaic park being delivered to Commerz Real located within the municipality of Västerås.