Solar developer Solkompaniet is all set to develop a 500MW solar portfolio in southern Sweden.
The company will work in partnership with European fund manager Niam, which will work through its infrastructure fund Niam Infra Fund. The duo has already agreed to jointly develop the portfolio.
It has been informed that the solar portfolio will be of worth more than €300 million.
The duo has agreed to build various large scale solar parks, “which could produce electricity corresponding to the electricity use of 120,000 households in central and southern Sweden.”
According to the companies, out of different projects, the first two solar parks are under development having a capacity of 80MW each. The first one is Östra Eneby outside Norrköping, which is likely to be completed by the end of 2024.
The additional solar parks are planned to be developed over the next two years.
Niam Infrastructure chief executive Sverker Åkerblom was quoted in a report, "Sweden has great conditions for solar parks,, plenty of land and good solar irradiation in our long coastal areas. Niam wants to contribute to solar becoming an important part of the Swedish energy system.”
He further stated that since Sweden's electricity demand might grow immensely, solar can meet part of the increased demand in southern Sweden.
Meanwhile, Solkompaniet chief executive Axel Alm commented, "Solkompaniet has built solar parks since the start in 2010, but it is only now that the size of the parks means that they become an important part of our electricity supply. The first solar park that we will develop and build for Niam alone corresponds to as much as has been built historically in Sweden until 2021.”