Niam's infrastructure fund targets 500 MW of Swedish solar together with Solkompaniet
Solar park. Niam and Solkompaniet Niam has, through its infrastructure fund Niam Infra Fund, entered into a framework agreement with Solkompaniet to develop large-scale solar parks in southern Sweden. The goal is to jointly develop and build solar parks of up to 500 MW, which corresponds to an investment of more than EUR 300 million. Once commissioned, the solar parks could produce electricity corresponding to the electricity use of 120,000 households in central and southern Sweden, where there is a significant need for new electricity production.
The development of the first two solar parks under the framework agreement is already underway and comprises 80 MW each. Östra Eneby outside Norrköping is the most progressed of the two parks and is located in an area with excellent conditions for solar power, access to electricity grid and where there is strong support from local residents. It is estimated that the solar park could be completed by the end of 2024. The goal is to start the development of additional solar parks under the framework agreement over the next two years.
Niam is one of Northern Europe's leading real asset fund managers and launched its first infrastructure fund in 2021. Through the collaboration with Solkompaniet, Niam intends to finance both development and construction of the solar parks.
"Sweden has great conditions for solar parks – plenty of land and good solar irradiation in our long coastal areas. Niam wants to contribute to solar becoming an important part of the Swedish energy system. Sweden's electricity demand is predicted to double as a result of the electrification that is now taking place, and solar can relatively quickly meet part of the increased demand in southern Sweden, where there is significant near-term need", says Sverker Åkerblom, CEO of Niam Infrastructure.
Sweden has had a solar boom for roof-top installations for a number of years now, with homeowners accounting for half of the installed power. The expansion of large scale solar has barely started in Sweden, despite there being significant potential. The high electricity prices during the summer show the need for new electricity production in central and southern Sweden. In addition, the solar parks will produce electricity during day-time when it is needed the most.
"Solkompaniet has built solar parks since the start in 2010, but it is only now that the size of the parks means that they become an important part of our electricity supply. The first solar park that we will develop and build for Niam alone corresponds to as much as has been built historically in Sweden until 2021", says Axel Alm, CEO of Solkompaniet.
For more information:
Sverker Åkerblom, CEO Niam Infrastructure
+46 723 881 893, sverker.akerblom@niam.com
www.niam.com
Axel Alm, CEO Solkompaniet
+46 768 535 879, axel.alm@solkompaniet.se
www.solkompaniet.se
About Niam
Niam invests in real assets in the Nordics and northern Europe with a focus on real estate and infrastructure. Through our infrastructure platform Niam Infrastructure, we see great opportunities and value in sustainable investments, and we strive to be part of the driving force for a greener and more sustainable future. This is achieved through innovation, deep knowledge and close collaboration with our partners. For more information, please visit www.niam.com
About Solkompaniet
Solkompaniet is the Swedish market leader in large scale solar with 20 years in the business. Solkompaniet has repeatedly built the largest photovoltaic installations on rooftops and in solarparks. In 2021 the turnover was 450 MSEK and the staff grew from 100 till 180. The core competence lies within engeneering and installation of solar plants. Further, Solkompaniet contributes by strateic advice and education within sustainability and photovoltaics. The subsidiary IBC SOLAR is a distributor of german IBC SOLAR´s quality products, to local and regional installers in Sweden. Solkompaniets is lead by its strong values and the main prioritization: safety, quality, productivity -always in that order. www.solkompaniet.se
About Niam AB
Niam is one of northern Europe's leading fund managers with a focus on investments in real estate and infrastructure. Since its inception in 1998, Niam has offered institutional investors the opportunity to invest in the Nordic real estate market through their funds. With extensive experience and expertise, the focus is on identifying and implementing improvements that create the best properties for our tenants and the communities where they are located with the goal of meeting both current and future needs. For the past 24 years, Niam has invested in properties of more than €12 billion and today they manage a property portfolio of approximately €2.7 billion. Niam Infrastructure focus on sustainable investments within renewable energy, transportation and telecom in the Nordics and northern Europe. The platform's first fund concentrates on small to medium-sized investments with a focus on asset aggregation and risk reduction in primarily sustainable infrastructure. Niam has almost 100 employees with offices in Stockholm, Helsinki, Oslo, Copenhagen and Luxembourg. For more information, please visit www.niam.com.
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