23.4.2024 06:25:01 CEST | Magnora ASA | Additional regulated information required to be disclosed under the laws of a member state

On 22 April, Helios Nordic Energy AB (Helios) handed over two PV solar projects with a combined capacity of some 90 MWp to a fund managed by Commerz Real.

The projects are fully permitted to start construction and have secured grid connection agreements. The largest, named Wing Fields, has a nominal capacity of 49.4 MWp. It is located in the municipality of Vingåker. The other, named Gas Light, has a nominal capacity of 39.2 MWp. It is located in the municipality of Götene. Both are a part of the five-project Serene portfolio that Commerz Real acquired from Helios in late 2022. 

Helios will remain involved in the projects providing construction management services and thereafter asset management services when the plants have entered operation.

"We are delighted with Helios's track record of turning projects into sales and sales into handovers. These deliveries allow Helios to recognize all sales revenue from the transactions," says Erik Sneve, CEO of Magnora.

“I’m very proud of Helios solidifying its position as the leading pv solar developer in Sweden, having delivered already three large-scale projects in 2024. We have a truly great team, and we are all highly motivated to continue adding more renewable energy production in the Nordics. We are also grateful for the very collaborative partnership we have established with Commerz Real, enabling us both to benefit from the growing and lucrative PV solar market in the Nordics”, says Andreas Tunbjer, CEO Helios

Helios Nordic Energy AB is a developer of large-scale solar PV and battery energy storage projects. The company is active in Sweden, Finland and Norway (through the joint venture Hafslund Magnora Sol). Helios has to date sold 24 solar PV projects to several different Tier 1 investors with an accumulated capacity of approx. 1 GW. Helios has so far delivered 8 projects with a total combined capacity of approx. 300 MW. The project pipeline exceeds 11 GW distributed over Sweden and Finland and includes both stand-alone BESS and solar PV projects.

 Commerz Real is a German asset management company, specialising in renewable energy and real estate investments. It is part of Commerzbank Group.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

• Erik Sneve, CEO, email: es at magnoraasa.com
• Torstein Sanness, Executive chairman, email: sanness at sf-nett.no

About Magnora ASA

Magnora ASA (OSE: MGN) has a legacy royalty business that is re-invested in renewable energy development projects and companies. Magnora’s portfolio of renewable companies consists of Helios Nordic Energy AB, Kustvind AB, Magnora Offshore Wind AS, Magnora Solar PV UK, Hafslund Magnora Sol AS, Magnora South Africa, and AGV. The company is listed on the main list on Oslo Stock Exchange under the ticker MGN. 

Attachments

• Download announcement as PDF.pdf