Hydro Rein, GreenGo companion on 118 MW of solar projects in Sweden

• Hydro Rein has agreed to acquire two early-stage solar projects with an integrated capacity of 118 MW in Sweden from Danish programmer GreenGo Energy, it was announced today.

GreenGo will certainly develop the projects, while Hydro Rein, a subsidiary of aluminium as well as renewable resource company Norsk Hydro ASA (OSE: NHY), will certainly manage the projects' structuring, path to market, construction as well as operations.

The projects, situated in location SE4 in southerly Sweden, have land lease contracts in position as well as interconnection demands filed with the grid company. Construction is expected to begin in 2027, with production starting in 2028. The projects are with each other expected to produce 143 GWh of electricity a year.

This marks Hydro Rein's initial solar financial investment in Sweden, diversifying its Nordic portfolio geographically and also technologically. The company has a pipeline of wind projects in Sweden and also sees prospective for incorporating wind and solar to decarbonise Swedish sector.

The bargain likewise represents GreenGo's very first collaboration in the Swedish market. "With Hydro's monetary toughness, experience in renewable investments and solid industrial visibility in the Nordic power market we with each other have a fantastic and scalable platform," according to its president Karsten Nielsen.

This is Hydro Rein as well as GreenGo's 2nd collaboration after in December 2022, Hydro Rein and Commerz Real revealed a financial investment in solar projects of GreenGo in Denmark.