26.7.2023 11:56:43 CEST | Magnora ASA | Additional regulated information
required to be disclosed under the laws of a member state
Magnora ASA's (Magnora) portfolio company Helios Nordic Energy AB (Helios)
signed today an agreement to sell seven solar pv projects with combined capacity
of 252 MWp to Norwegian energy company Hafslund.
This transaction is Helios seventh and largest in terms of size and value to
date. Six of the projects are in zone SE3 and one in SE4. These parts of
southern Sweden have attractive solar irradiation conditions while running short
on energy production and grid capacity. Due to the attractive locations of the
projects, the price per MW for the portfolio is in the high end of Magnora's
price guiding.
Helios sells most projects when a substantial part of the risk is mitigated.
Typically, Helios receives partial payment when a transaction is closed and the
remaining payment when projects have reached ready-to-build status. Hafslund has
acquired four projects where the construction phase is likely to start in 2024
and three projects expected to reach ready-to-build in 2025-26.
"We are very pleased with signing this deal with Hafslund as we have found them
to be very professional during this bid process, and they have proven to be very
serious about their ambitions for the Swedish Solar PV market. We are looking
forward to a fruitful cooperation with them and to deliver our projects during
the next years to come," says Andreas Tunbjer, CEO of Helios.
In total Helios has sold 955 MW. Last year Helios delivered four ready-to-build
projects with a total capacity of 147 MW to Solgrid, Nordic Solar and Commerz
Real.
EY acted as financial advisor and Setterwalls as legal advisor to Helios for
this transaction.
About Helios Nordic Energy AB
Helios Nordic Energy AB is one of Sweden's and the Nordic countries' leading
developers of solar energy and battery energy storage with a project pipeline
exceeding 5,5 GW. In the past year, Helios has with this deal completed seven
transactions with recognized investors. A total of 24 large scale solar projects
will be delivered within the next few years with an expected total capacity of
approx. 1 GW and an estimated investment value of approx. SEK 5,5 billion. To
date, four projects, with a total capacity of 147 MW, have been handed over to
investors after reaching the RtB status (Ready To Build). www.heliosnordic.com -
http://www.heliosnordic.com
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
CONTACTS
* Erik Sneve, CEO, email: es at magnoraasa.com
* Torstein Sanness, Executive chairman, email: sanness at sf-nett.no
ABOUT MAGNORA ASA
Magnora ASA (OSE: MGN) invests in renewable energy development projects and
companies. Magnora's portfolio of renewable companies consists of Helios Nordic
Energy AB, Kustvind AB, Magnora Offshore Wind AS, Magnora Solar PV UK, Hafslund
Magnora Sol AS, Magnora South Africa, and AGV. In addition, Magnora has legacy
revenues from its previous design business and potential milestone payments from
the sale of Evolar AB (sold to First Solar Inc). The company is listed on the
main list on Oslo Stock Exchange under the ticker MGN.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/2511/3480/Download%20announcement
%20as%20PDF.pdf