Magnora ASA

Environmental & Social Information • Feb 23, 2024

Magnora ASA - Helios Nordic Energy AB delivers the first large-scale pv plant on the sunny island of Gotland to Nordic Solar AS

Magnora ASA - Helios Nordic Energy AB delivers the first large-scale pv plant on the sunny island of Gotland to Nordic Solar AS

23.2.2024 07:17:00 CET | Magnora ASA | Non-regulatory press releases

Today, Nordic Solar received a 40 MW ready-to-build pv project with all

necessary permits and a grid connection agreement with the grid owner GEAB. The

project is located on the Swedish island of Gotland, south of Visby, on some 60

hectares of well-suited land.

The project is part of the Merope portfolio that Helios Nordic Energy AB

(Helios) sold to Nordic Solar in early 2023. Helios will continue to play a role

in the project by providing construction management services during construction

and thereafter asset management services after the pv plant enters operation.

To date, Helios has sold projects with an estimated capacity of 955 MW and has

overall delivered six projects totaling 207 MW to customers, including Nordic

Solar AS, Hafslund, Commerz Real, and Solgrid. With this track record, Helios

has proven to be one of the leading PV developers in Sweden. More project

deliveries are expected in the near and mid-term.

"We are very pleased to announce the handover of this project to Nordic Solar

AS. It is a truly remarkable project that will add a substantial contribution to

renewable energy production to the benefit of the community of Gotland. It is

the third project handover to Nordic Solar and a testament to the capabilities

of our fantastic team and the overall quality of our project pipeline", says

Andreas Tunbjer, CEO of Helios Nordic Energy AB.

"We are very pleased to continue our cooperation with Helios Nordic Energy on

this new project. Together we can help boost the production of renewable energy

in Sweden. Adding this new project to our portfolio is part of our focus on

accelerating the production of solar energy from large-scale solar parks in the

region," says Nikolaj Holtet Hoff, CEO, Nordic Solar.

Magnora is the largest owner of Helios with 40 percent of the shares. Project

deliveries trigger a significant cash payment and revenue recognition.

About Nordic Solar A/S

Nordic Solar is a Danish solar energy company which develops, constructs and

operates utility-scale solar parks across Europe. Since its establishment in

2010, the need and the market for renewable energy have increased sharply, and

Nordic Solar intends to play a key role in the green transition. The company is

owned by approx. 725 shareholders and employs more than 100 employees. Today,

Nordic Solar operates solar parks with a total capacity of almost 400 MWp across

Europe and has projects under development and under construction totaling 1.9

MWp. Read more at www.nordicsolar.eu - http://www.nordicsolar.eu.

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/17847805/2926/4105/Download%20announcement

%20as%20PDF.pdf