Sweden

Climate tech investments jumped 224% in Sweden and surged to $16.6 billion worldwide in Q3 2023. China led the way with $4.5 billion, followed by low-carbon energy and transport. 34 new venture capital and private equity funds are expected to inject $8.2 billion.

Neoen and Alight are excited to be working on the 100MWp Hultsfred solar farm in Sweden, which will provide 18,000 homes with renewable energy come 2025. H&M Group has even secured a long-term PPA to receive 95% of energy produced. Get ready for a greener future!

Ilmatar Solar AB is making history with its first solar array in Sweden. With plans to construct and grid connect 55MWp of energy at Knihult, it's set to power 210,000 homes and become a major success in the Swedish market. Get the story behind the project Spring 2024.

Obton, a leading solar energy developer and investor, is set to build its first solar park in Sweden with 15MWp capacity. June 2021 marks the start of the project, with completion in 2025. Obton is overseeing studies, financing and construction, with plans for further solar projects in Sweden. With over 1.7 GWp of PV projects and 3.5 billion EUR in assets, Obton is a leader in the solar industry.

Swedish developer Alight is building a 100+ MW solar park in Finland, expected to power 20,000 homes. Construction will begin in 2024, bringing jobs to the community and helping Finland reach its carbon neutrality goals. Warren Campbell of Alight expresses excitement for the expansion.

INTEC and CHINT Solar partner to build a 64-MWp photovoltaic solar park in Hallstavik, Sweden. Expected to generate 63 GWh of electricity each year, powering 12,600 households. Construction planned for completion by Q2 2024. Axfood AB signs 12-year PPA agreement.

Intec Energy Solutions and Chint Solar have been selected by Alight to deliver a 64MW photovoltaic project in Hallstavik, Sweden. The solar farm will contribute to advancing sustainable energy sources and mitigating carbon emissions, while providing customer service excellence.

Funded by Vinnova and Scania, this research project is developing a solar-powered hybrid truck with a 560-horsepower plug-in hybrid and 18m trailer covered with 100 sqm solar panels. Expected to reduce emissions and sell electricity to the grid, the truck is being tested by Ernsts Express AB.

Fortum, a Finnish energy company, plans to build a 90-MW solar power plant in Sweden. The project, called Alvret, will cover 95 hectares of land and is estimated to take up to three years to complete. Construction will begin once the permit process is finished. An additional 80-MW solar project is planned for Virolahti, Finland.

Northvolt, a leading European battery manufacturer, has secured over $9bn in equity and debt to fund its European and North American expansion. Investor include Investment Management Corporation of Ontario, BlackRock, Canada Pension Plan Investment Board, OMERS, Goldman Sachs Asset Management, AP Funds 1-4, Folksam Group, ATP and Volkswagen Group.

Midsummer AB has been awarded an EU grant of EUR 32 million to build a 200-MW CIGS solar cell factory in Sweden. The CIGS solar cells are lightweight, flexible and able to be installed on lightweight roofs. The project is expected to solidify Midsummer AB's foothold in the European solar market.

Ilmatar, a Nordic developer, has secured land for a proposed 350MW solar farm in Grums, Sweden. Working with local landowners, the farm will be one of the largest in Sweden, using timber forest damaged by bark beetles. Christian Gustafsson, Ilmatar's CEO, looks to expand renewable energy for Sweden with the project. Anders Bergenheim, a local landowner, is excited about the collaboration.

Northvolt has secured a $400M investment from IMCO to expand their battery production capacity, with a focus on clean energy manufacturing, regional sourcing, and closed-loop circularity through recycling. This investment supports meaningful capital deployment for the energy transition and managing ESG risks.

Alight has signed a PPA with Axfood for the largest solar park in Sweden, unlocking non-recourse project financing. SEB will provide the debt financing to build the 64MW park, which will be operational in 2024 and feature initiatives to promote biodiversity.

Soltech and Solgrid have entered a partnership to develop and operate 300 MW of ground-mount solar projects in Southern Sweden. Solgrid is investing SEK 2 billion with potential orders of SEK 1 billion for project development. Applications are submitted and construction is expected in 3-4 years.