Soltech company, Takorama Elteknik, has won a hybrid deal. The assignment means that the company will assist the logistics property company Catena with a 1 MW roof-mounted solar energy solution, energy storage with an output of 1.5 MW, reroofing and associated electrical engineering work. The assignment will start in 2024 and will be carried out on a logistics property in Borås.
With over 30 years of in various roof solutions, the Ljungskile-based Soltech company Takorama Elteknik has solid industry experience. In recent years, the company has also developed a solar energy and electrical engineering department in line with Soltech's transformation strategy, adding solar energy expertise to the core business. As a result, the company now offers complete solutions in solar energy, energy storage, roofing and electrical engineering.
The hybrid assignment for Catena includes a re-roofing of approximately 2,000 square meters and an approximately 5,000 square meter solar energy solution. Catena has also commissioned Takorama Elteknik to design and install a 1.5 MW energy storage facility adjacent to the property in order to initially be able to activate support services for the frequency market. The set-up around the energy storage will be a stand-alone system installed in connection with new electrical systems and new switchgear.
In the long term, there is also the possibility of converting the battery installation directly to the property to create additional added value. For example, peak shaving, which is a technology that evens out sudden peaks in electricity consumption and limits the load on the electricity grid.
– It feels great to have been entrusted by Catena to assist with a sustainable overall solution. This type of hybrid assignment, where we work with our customers to combine different solutions, is something we have been developing for a long time. In this we get confirmation that our broad expertise is in demand and creates security and simplicity for our customers. We look forward to contributing to a sustainable logistics property that utilize the sun and and supports the electricity grid, says Pierre Sahlin, Head of Solar Energy at Takorama Elteknik.
Developing sustainable logistics properties
Catena is a listed property company that develops and manages logistics facilities in Scandinavia's metropolitan regions on a long-term basis. The property portfolio currently consists of more than 130 properties in Sweden and Denmark.
An important part of Catenas sustainability work consists of developing energy-smart properties. Therefore, green energy solutions such as solar and energy storage are growing areas for the company.
– The combination of solar energy and energy storage is becoming increasingly important in the development of sustainable logistics properties. We are very much looking forward to working with Takorama Elteknik in connection with the solar and battery installation for one of our properties in Borås. Although solar energy investments in the logistics property industry are still partly hampered by regulations, we maintain that the real estate sector has great potential and that significant energy investments are the way forward, says Jonas Arvidsson, Regional Manager at Catena.
Soltech's subsidiary 365zon has won one of the biggest Dutch tenders in solar energy branch. The winning assignment means that 365zon will install solar panels on 900 houses in the reaming of 2023 and a potential of another 4 000 during the coming two years (2024-2025). The potential order value for the total deal amounts to approximately SEK 130 million.
The Dutch solar energy company 365zon are one of the Netherlands' largest solar energy companies. They are focused on solar and charging solutions for the consumer market, housing associations, pension funds and member and consumer organizations for homeowners and tenant owned apartments.
On behalf of several pension funds, Achmea Real Estate that manages approx. 25,000 homes, wants to offer its tenants of single-family and multifamily homes to offer solar panels on the basis of a free contribution from residents.
Until the end of 2025, they want to offer solar panels to thousands of homes. An assignment 365zon now have been entrusted for 2023. The tender participants who were chosen for the bid were selected by, pricing, sustainability, customer journey, delivery reliability and quality to name a few.
– It feels great to win such a big tender among different competitors. We are looking forward to helping Achmea Real Estate harnessing the sun's potential and helping house owners become renewable energy producers in the coming years, says Lars Buuts, CEO of 365zon.
– We are thrilled that our subsidiary secures yet another major solar energy deal. This accomplishment not only demonstrates their commitment to sustainable energy solutions but also showcases 365zon’s ambition in creating a brighter, cleaner future for residents in the Netherlands, says Stefan Ölander, CEO of Soltech Energy.
More than 75 Hydroscand stores around Sweden will have charging points installed by the Borlänge-based Soltech company E-Mobility. This has been confirmed after an agreement was signed between the two companies, which amounts to a total of 200 charging points. The design and installation of the charging points will start during autumn.
E-Mobility is the Soltech Group's company with specialist expertise in large-scale charging stations for different types of electrical vehicles and highly efficient charging infrastructure. The company has signed an agreement with the Group Hydroscand AB for the expansion of a large scale charging infrastructure at their stores in Sweden.
Starting in the autumn of 2023, E-Mobility will design, install and create an own digital portal for approximately 200 chargers connected to Hydroscan's store properties in over 75 locations in Sweden.
– We are proud to contribute to Hydroscand's sustainability work in Sweden through our expertise in scalable charging infrastructure and smart charging systems. The 200 charging points will create great value for their customers and employees and, not least, contribute to the transition to a sustainable society, says Martin Götesson, CEO of E-Mobility.
International family business with sustainability ambitions
The family business Hydroscand was founded in Stockholm in 1969 and is today a market-leading supplier of hoses and pipe components in Scandinavia. In Sweden, Hydroscand has more than 75 stores and a nationwide mobile hose service known under the brand name SlangExpress. The collaboration with E-Mobility will now be an important part of the company's focus on sustainability and future-proofing its stores.
– By installing charging points at our stores, we will make it easier for our customers and employees to choose a more environmentally friendly transport solution. We are happy about our collaboration with E-Mobility and look forward to contributing to a more sustainable future, says Pontus Nygren, CEO of Hydroscand AB.
Soltech company Soltech Energy Solutions has now signed a new battery contract. The company will help the energy Group Tekniska verken with a battery storage of 4 MWh. The battery storage will be built in connection to a new charging park for heavy vehicles that Tekniska verken will build in Mjölby. The order value for the project amounts to SEK 28 million and construction is expected to start in Q1 2024.
Soltech Energy Solutions is the Soltech Group's operating company within tech solutions such as advanced energy systems, energy storage and large-scale solar energy solutions. The company has previously helped several energy companies with battery storage solutions that balances the electricity grid, sells frequency services to Svenska kraftnät and cuts power peaks that the increased electrification brings.
Now the company will help Tekniska verken with a new large-scale battery installation. The battery storage will be built in connection with the charging park for heavy vehicles that Tekniska verken will construct in Mjölby close to the E4 motorway. The project is the second that Soltech is constructing in their grid, after a 2 MW/2MWh battery storage facility that was installed in 2022.
– It feels great to once again be able to design and install a large-scale tech solution in the form of a battery storage of 4 MW/4MWh. The battery storage will be an important measure to both stabilize the electricity system but also to boost their upcoming charging park and cut any power peaks, says Rickard Lantz, Business Development Manager at Soltech Energy Solutions.
Increasing demand
Energy storage solutions in the form of large-scale batteries is becoming an increasingly important complement to the electricity system. Not least when increasingly renewable and weather-dependent electricity production such as solar and wind energy is installed. These types of power sources are often a challenge for grid owners as they do not offer the support services that planable facilities normally offer.
– With this technology, energy companies can be part of the solution to a problem posed by increased electrification and the rising amount of renewable electricity. By connecting their battery storage to the frequency market, a necessary balance is created between production and consumption, concludes Rickard Lantz.
So writes Analysguiden, part of Aktiespararna, in a new analysis of Soltech Energy's share. In terms of the share's valuation, Analysguiden concludes that the Soltech share is still heavily undervalued and reasons that the market capitalization is far too low. They therefore repeat their previous price target of SEK 25 per share for the Soltech share.
The analysis also includes a market overview in which the Analysguiden particularly highlights Soltech's broadening towards two strategic areas. The first is the solar park area, where Soltech has signed an agreement with Norwegian Solgrid for potential order volumes of SEK 700-1000 million over the next few years, and potentially up to SEK 2 billion in total. The second area the analysts identify a little extra is the expertise in large-scale EV charging, where the subsidiary E-Mobility is leading the Group's investment in an area that is expected to grow significantly in the coming years.
However, the analysis comments that the margin improvement is delayed and indicates that the gross margin remains at 35%. 2023 is once again a challenging year, but management and all subsidiaries are working hard to improve margins on an ongoing basis.
In summary, Analysguiden states that they see a significant upside in the share and also presents a reasoning in which they report that they do not find anything substantial enough to even come close to explain the falling price trend and the low valuation.
Here you can read the full analysis (in Swedish): https://www.aktiespararna.se/analyser/soltech-energy-forskjutning-av-marginalmalet
The Soltech company Soltech Energy Solutions will now install a 3.8 MW roof-placed solar energy solution for the energy company Öresundskraft. Close to 18,000 square meters of solar panels will be installed on the roof of Greenfood's new production and logistics facility at Långeberga, outside Helsingborg. The solar electricity will then be traded through a PPA (Power Purchase Agreement) signed for 19 years. Construction of the facility will start at the end of 2023.
Soltech Energy Solutions is active in project development of large-scale solar energy solutions on roofs, land and tech solutions for property owners and large energy companies.
The company has now been commissioned to install a 3.8 MW solar installations for Öresundskraft and Greenfood at Greenfood's new production and logistics facility "Greenhouse". The production capacity from the solar panels will roughly correspond to the household electricity that 700 average houses, or equally what 1 750 apartments consume annually.
– We are very pleased to be able to help Öresundskraft and also Greenfood with a large-scale rooftop solar energy solution. The PPA electricity purchase agreement signed for the solar electricity also means that the business will have a stable electricity price over time while reducing its climate footprint, says André Nylén, Key Account Manager at Soltech Energy Solutions.
Long PPA solution
The production from the solar panels will cover about 20 percent of the Greenfood Group's electricity needs and the electricity will be traded by Greenfood through a PPA agreement signed for 19 years. This means that Greenfood only buys the solar electricity at a fixed and stable price and avoids the initial investment for the solar energy solution. After Soltech's installation of the solar panels, the installation will be owned and maintained by Öresundskraft.
– The PPA solution is a new business model that we are exploring and evaluating to enable our customers to make strategic energy choices and act more sustainably. This large-scale solar cell plant, which will also be one of the largest in Sweden, is strategically important for Helsingborg's future energy supply and contributes to achieving the city's important climate and energy goals, says Niklas Leweus, Strategic Key Account Manager at Öresundskraft.
Now the Soltech company Soltech Energy Solutions and the energy company Ra Energy have entered into an implementation agreement. The agreement means that Soltech, together with Ra Energy, will now evaluate logistics property company Logistea's property portfolio of close to 70 properties. The aim is to identify properties suitable for large-scale photovoltaic systems and battery storage. The collaboration could potentially include over 650,000 sqm of rooftop and ground-mounted solar energy, PPA electricity purchase agreements for tenants and complementary battery storage solutions.
Soltech Energy Solutions is active in project development of large-scale solar energy solutions on roofs, land and tech solutions for property owners and major energy companies. The company is also part of various value-creating partnerships with the aim of combining skills, innovation levels and resources with the goal of accelerating the green transition. Something that Soltech Energy Solutions now doing with Ra Energy.
The implementation agreement begins with the companies jointly inventorying, planning and initiating technical feasibility studies regarding Logistea's property portfolio of nearly 70 properties intended for logistics, warehousing and light industry. The companies also intend to negotiate solar power purchase agreements, PPA (Power Purchase Agreement) with the tenants who, after installation of the solar cells, are enabled to buy the solar electricity at a favorable price.
– We are very much looking forward to this collaboration in which we can really make a difference. Our deep expertise within tech solutions such as large-scale solar energy and battery solutions combined with Ra Energy's cutting-edge expertise in electricity trading and frequency trading will create great value for Logistea and their tenants going forward, says Christoffer Caesar, CEO of Soltech Energy Solutions.
Large unused areas
Ra Energy currently has a framework agreement with Logistea that gives Ra Energy the opportunity to install and build solar energy solutions on their approximately 650,000 sqm roof. Now the process of filling the property roofs with solar panels will be intensified when Ra Energy and Soltech Energy Solutions collaborate.
– With Soltech's expertise and ability to quickly install large volumes of solar solutions and Ra Energy's existing and future pipeline of access to roofs and land, we are pleased and confident to see a strong, expansive and highly profitable collaboration onwards, says Stefan Hansson, CEO of Ra Energy.
Soltech company Takrekond is now making its first bolt-on acquisition. It is Icopal Entreprenad in Helsinborg with 10 employees that will become part of Takrekond from September 1. This means that Takrekond is broadening its operations geographically and gets a new branch, Takrekond i Helsingborg, which will operate projects with large-scale roofing and solar energy solutions similar to Takrekond's existing operations in Växjö and Kalmar.
Soltech Energy acquires and develops companies in the solar, roofing, façade and electrical engineering industries. The Group also makes various types of bolt-on acquisitions to develop, strengthen and create new opportunities for existing subsidiaries.
The roofing contracting company Icopal Entreprenad's branch in Helsingborg now becomes a part of the subsidiary Takrekond through an asset acquisition. With about 10 employees and a stable financial platform the acquisition of Icopal in Helsingborg will be the starting point for Takrekond's strategic expansion into Skåne.
– This is a perfect way to further develop the company and a support for Nisse Jansson and his team at Takrekond to expand their business to Skåne. We acquire a successful business from Icopal which, in addition to roofing contracting, will also be transformed to offer solar energy services in line with Takrekond's overall strategy. I would like to warmly welcome the new employees who will now form Takrekond i Helsinborg, says Stefan Ölander, CEO of Soltech Energy.
Icopal Entreprenad AB is a roofing company with operation in southern Sweden. The company is part of the BMI Group, which is Europe's largest manufacturer of flat and steep roofs. One of the company's nine local offices is now being divested when the Helsingborg branch becomes part of the Soltech Group.
Fasadsystem is one of the Soltech Group's companies active in facade, glass and aluminium contracting, as well as solar facades and roof-placed solar energy installations. The company has now signed several deals with, among others, Skanska and NCC. The assignments include integrated solar cell facades, facade renovations and large-scale roof-placed solar energy solutions. The projects are planned to start in Q3-Q4 2023 and Q1 2024. The total order value for the assignments amounts to approximately SEK 34 million.
Fasadsystem in Stenkullen has been part of the Soltech Group since 2020. They offer different types of solar facades and roof-mounted solar energy solutions, in addition to the core competence in façade contracting as well as glass and aluminium work.
Now the company has won several new projects. Among other things, Fasadsystem will help the construction group Skanska with the renovation of a large existing glass façade in Gothenburg. Högskolan Dalarna will get a black, shimmering solar facade of about 600 sqm and Remondis in Hovmantorp will get a large roof-placed solar cell installation. The rooftop solar cell installation will cover an area of close to 1,000 sqm and have an installed capacity of 258 kW.
In line with Soltech's transformation strategy, Fasadsystem has added solar energy services to its core competencies since becoming part of the Group. Something that is now once again evident when the new projects span traditional facade renovations to the installation of integrated and technically complex solar cell facades. The company's CEO Tommie Standerth is proud of the orders and of the company's broad competence.
– We are very pleased to have been entrusted with carrying out several new prestige orders. In addition to deepening our cooperation with companies such as Skanska and NCC, it feels great that we can offer a broad palette of competitive services. It is Fasadsystem's employees who make this possible and we look forward to starting the new projects, says Tommie Standerth, CEO of Fasadsystem.
Soltech Energy's CEO, Stefan Ölander, comments on the report for the second quarter of 2023 at Nyhetsbyrån Direkt
Watch the interview here:
https://www.youtube.com/watch?v=ON1DXZlnnLU