Niam partners on 500MW Swedish solar portfolio
- Agreement with Solkompaniet will certainly see both companies collectively develop large scale projects amounting to greater than EUR300m
European fund manager Niam and solar developer Solkompaniet have actually consented to collectively develop and also construct a 500MW solar portfolio in southern Sweden worth greater than EUR300m.
The framework agreement, which Niam entered in with its infrastructure fund Niam Infra Fund, will see both firms develop numerous large scale solar parks which can create electricity corresponding to the electricity use 120,000 households in central and southerly Sweden.
The development of the first 2 solar parks under the framework agreement is already underway and also comprises 80MW each.
Östra Eneby outside Norrköping is the most advanced of the two parks and is located in a location with superb conditions for solar energy, accessibility to electrical energy grid and also where there is solid assistance from regional citizens, Niam stated.
It is estimated that the solar park could be completed by the end of 2024.
The objective is to start the growth of added solar parks under the framework agreement over the following two years, Niam said.
Via the partnership with Solkompaniet, Niam intends to finance both growth and building of the solar parks, the business added.
Niam Infrastructure chief executive Sverker Åkerblom stated: "Sweden has wonderful problems for solar parks-- a lot of land and great solar irradiation in our lengthy seaside areas.
" Niam wants to contribute to solar coming to be an important part of the Swedish power system.
" Sweden's electricity demand is forecasted to double as a result of the electrification that is currently happening, as well as solar can relatively rapidly meet part of the raised need in southerly Sweden, where there is substantial near-term demand."
Solkompaniet chief executive Axel Alm stated: "Solkompaniet has actually constructed solar parks because the beginning in 2010, however it is only now that the size of the parks means that they end up being a fundamental part of our electrical energy supply.
" The very first solar park that we will certainly develop and also build for Niam alone represents as much as has actually been constructed historically in Sweden until 2021."