Helios has agreed to provide a complete delivery of the two largest utility-scale solar parks in Sweden to date, totaling 70MW, in a contract with Commerz Real.
Magnora owns a 40% ownership in Helios Nordic Energy, which will provide project rights, construction management, and commercial and technical management services for the developments.
Helios also handled the grid connection deal and coordinated the engineering, procurement, and construction (EPC) process.
The first plant, which will be located in the municipality of Vasteras, will have an installed capacity of around 21 megawatts.
The second park will be built in Tierp municipality later this year, pending the receipt of final building permissions, and will have a 48MW installed capacity.
The Tierp park is scheduled to close in the autumn of 2022, once all of the closing conditions have been met.
This is one of the most significant transactions in the Swedish solar energy market to date.
Peter Nygren, board member of Helios, said “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”.
Helios is a Swedish solar and battery storage project developer that has obtained land for more than 30 projects throughout Sweden, as well as Lithuania and Latvia recently. Helios’ pipeline has a capacity of over 1.5 GW.
With €35 billion in assets under management, Commerz Real is the German Commerzbank’s real asset investment manager.
Since 2005, the company has been investing in solar energy and wind energy plants, and it now runs over 50 solar power plants and over 30 onshore and offshore wind farms with a total installed capacity of over 1.4GW.
The parties have agreed not to reveal any financial information about the transactions.