By investing in the creation of a 60MW solar PV project and a 40MWh Battery Energy Storage System (BESS) project, Magnora has entered the UK solar and battery storage services market.
The projects will be developed to a Ready-to-Build stage by Magnora and an undisclosed local development partner, after which the projects will be unloaded.
The local development partner of Magnora has ten years of experience in the UK creating energy projects, including PV and BESS projects.
According to the statement, the major activities for the upcoming year will be to prepare the sales process, get planning approvals, and optimise the projects from an environmental and technical standpoint.
Erik Sneve, Magnora chief executive, said “We are very pleased to take our first step into the attractive UK solar PV and battery energy storage markets, and by that leverage on our experiences from Sweden where we successfully have built a portfolio of development stage solar energy projects through our ownership in Helios Nordic Energy AB.”
“We will continue to monitor further opportunities, and subject to a successful development in this first step, we will consider further investments in the UK solar PV and BESS market.”