Magnora ASA

Regulatory Filings • Apr 23, 2024

Commerz Real receives 90 MW, ready-to-build, from Helios

Commerz Real receives 90 MW, ready-to-build, from Helios

23.4.2024 06:25:01 CEST | Magnora ASA | Additional regulated information

required to be disclosed under the laws of a member state

On 22 April, Helios Nordic Energy AB (Helios) handed over two PV solar projects

with a combined capacity of some 90 MWp to a fund managed by Commerz Real.

The projects are fully permitted to start construction and have secured grid

connection agreements. The largest, named Wing Fields, has a nominal capacity of

49.4 MWp. It is located in the municipality of Vingåker. The other, named Gas

Light, has a nominal capacity of 39.2 MWp. It is located in the municipality of

Götene. Both are a part of the five-project Serene portfolio that Commerz Real

acquired from Helios in late 2022.

Helios will remain involved in the projects providing construction management

services and thereafter asset management services when the plants have entered

operation.

"We are delighted with Helios's track record of turning projects into sales and

sales into handovers. These deliveries allow Helios to recognize all sales

revenue from the transactions," says Erik Sneve, CEO of Magnora.

"I'm very proud of Helios solidifying its position as the leading pv solar

developer in Sweden, having delivered already three large-scale projects in

2024. We have a truly great team, and we are all highly motivated to continue

adding more renewable energy production in the Nordics. We are also grateful for

the very collaborative partnership we have established with Commerz Real,

enabling us both to benefit from the growing and lucrative PV solar market in

the Nordics", says Andreas Tunbjer, CEO Helios

Helios Nordic Energy AB is a developer of large-scale solar PV and battery

energy storage projects. The company is active in Sweden, Finland and Norway

(through the joint venture Hafslund Magnora Sol). Helios has to date sold 24

solar PV projects to several different Tier 1 investors with an accumulated

capacity of approx. 1 GW. Helios has so far delivered 8 projects with a total

combined capacity of approx. 300 MW. The project pipeline exceeds 11 GW

distributed over Sweden and Finland and includes both stand-alone BESS and solar

PV projects.

Commerz Real is a German asset management company, specialising in renewable

energy and real estate investments. It is part of Commerzbank Group.

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) has a legacy royalty business that is re-invested 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. 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/17847805/3036/4349/Download%20announcement

%20as%20PDF.pdf