20 June 2023

Soltech Energy Solutions and Norwegian Solgrid in solar park agreement – aiming for 300 MW

The Soltech Group's subsidiary, Soltech Energy Solutions, and the Norwegian solar park developer and investor Solgrid have entered a co-operation agreement where Solgrid becomes an investor and owner in several solar park projects that Soltech Energy Solutions will develop, install and operate. The ambition in the agreement is project developments for 300 MW of ground-mounted solar energy, which would mean a total investment of approximately SEK 2 billion for Solgrid if all applications are approved. County administrations and network owners decide on how many projects that will be approved, but the forecast for the initial order volume is total approx. SEK 700 million up to SEK 1 billion for Soltech Energy Solutions during the first 3-4 year period.

Soltech Energy Solutions is active within project development of large-scale solar energy solutions on roofs, ground and tech solutions for property owners and energy companies. The company has now entered into a cooperation agreement with the Norwegian solar park developer Solgrid, which invests mainly in land-based solar parks in Sweden together with Soltech Energy Solutions.

The agreement means that Solgrid will become the owner and investor of several solar parks that Soltech Energy Solutions designs, installs and operates in southern Sweden. Christoffer Caesar, CEO of Soltech Energy Solutions sees the agreement as a payoff for the company's project development focus.

– This project development agreement confirms the strategic movement we are making towards becoming a large-scale project developer that attracts investors that want to contribute to and accelerate the green transition. Solgrid is a highly competent partner who has seen the advantages in Sweden's solar energy conditions as well as in our quality processes and experience within the team, says Christoffer Caesar, CEO of Soltech Energy Solutions.

Major investment in locally produced electricity
The projects that Soltech Energy Solutions will design and develop for Solgrid are located in the so called electricity area SE4 and will be carefully evaluated based on existing infrastructure and where the solar parks can harmonize with natural and cultural values. Kristin Melsnes, CEO of Solgrid, is very positive about the investment and the long-term agreement with Soltech.

– It feels great that we are investing in more large-scale solar parks in Sweden. The solar energy conditions in southern Sweden are good and the local need for energy is large. Therefore, it feels safe that Soltech Energy Solutions is our partner in these type of solar park projects at a level that will strongly contribute to the local electricity supply, says Kristin Melsnes, CEO of Solgrid.