Magnora ASA

Magnora ASA - Helios Nordic Energy AB hands over a fully permitted solar pv project and expands its project pipeline to 9GW

30.11.2023 13:00:54 CET | Magnora ASA | Additional regulated information

required to be disclosed under the laws of a member state

Today, Solgrid received the second and final part of a portfolio acquired from

Helios Nordic Energy (Helios) in May 2022. This ready-to-build solar pv project

is located in Örebro County, Sweden. Helios has secured all necessary permits

and a grid connection agreement with EON. The expected installed capacity of

this solar park when completed will be approximately 19 MWp. This hand over

allows Helios to recognize all sales revenue from the transaction.

In the past year, Helios has concluded six portfolio transactions with reputable

investors. These deals involve 24 large scale PV solar plants, each to be

delivered in the next few years. As of November 2023, Helios has handed over

five ready-to-build projects to customers. These projects have a combined

capacity of some 170 MWp and an output sufficient for approximately 85 000

Swedish households.

In October 2023, Helios completed construction of a solar PV project in

Västerås. This 22MWp project, the largest in Sweden to date, was developed by

Helios and is owned by Commerz Real.

Helios Nordic Energy AB is the leading solar pv developer in the Nordics. As of

November 2023, Helios's project pipeline exceeds 9 GW including Helios's net

share of projects in Finland and Sweden.

I´m incredibly proud over our team in Helios to deliver our second project to

Solgrid within the expected timeline. This also marks the fifth project handed

over during 2023 and is a true testament to Helios's ambition to become one of

the leading pv companies in the Nordics, says Andreas Tunbjer CEO of Helios

Nordic Energy.

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, and Magnora

South Africa. 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/17847805/2788/3895/Download%20announcement

%20as%20PDF.pdf

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