Bifogade filer
PDF
Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Energi & Miljö |
| Industri | Energikällor |
Stavanger/Oslo, Norway, 20 April 2022 - Norsk Solar AS ("Norsk Solar"), a fast-growing independent solar power producer ("IPP") in the corporate and industrial ("C&I") segment, today provides a project update and information about its strategic roadmap from 2022 and onwards.
Company Update
Norsk Solar aims to be the leading IPP supplying cost-efficient energy to corporate offtakers in high-growth emerging markets. Over the past twelve months, the company has achieved several important milestones:- Achieved commercial operations for the 11 MW rooftop solar plant project in Vietnam with corporate offtaker Central Retail,
- Established joint investment platform with Finnfund, an impact investor majority owned by the Finnish State. The JV, Nordic Impact Cooperation, has completed its first investment in Norsk Solar's portfolio in Vietnam,
- Secured first investment from Norfund, the Norwegian Investment Fund for Developing Countries, in the Vietnam portfolio and established intention to partner in future projects.
- Substantially matured the 37 MW portfolio of projects in Brazil and signed power purchase agreements ("PPAs") for 24 MW of the development agreement with offtaker Órigo Energia,
- Set up operating entities and hired Country Managers to lead growth in Brazil and South Africa, and
- Onboarded key employees to prepare for further scaling and growth.
Executing on Growth Strategy
Completion of the projects in Brazil form the basis to establishing Norsk Solar a leading power provider for corporate energy buyers. The PPA signee and offtaker, Órigo Energia, is backed by Mitsui & Co, TPG Capital and MOV Investimentos. Financial close for the first and second phase of the total 37 MW portfolio of projects is expected to take place during the second half of 2022, with a total capex size of approximately NOK 400 million. Furthermore, Norsk Solar is on track to reach its goal of an additional 196 MW in project investment decisions by the end of 2022, a major milestone that will place the company in a strong position to reach further growth targets in the future. Norsk Solar has mandated Clarksons Platou Securities AS to assess and advise on potential financing alternatives.
Commenting on the announcement, Øyvind L. Vesterdal, CEO of Norsk Solar, said:
"Norsk Solar is making significant strides toward realizing our ambition of becoming a leading solar solutions partner for C&I entities in high-growth emerging markets. We have successfully completed our rooftop project in Vietnam, despite challenging conditions caused by the global pandemic, and have built a robust team and financing platform that will allow us to efficiently deploy new projects. Norsk Solar is prepared to scale and meet the rapidly growing demand for clean energy in our target markets."
Commenting on the announcement, Pål S. Valseth, Chairman of Norsk Solar, said:
"I am excited about Norsk Solar's development as we enter the next phase of growth. We are on track toward achieving our strategic objectives and fully committed to supporting sustainable growth in emerging markets while providing significant value to investors."
The updated company presentation is available at https://norsksolar.com/investor-relations/