Magnora ASA

Earnings Release • Aug 10, 2021

Magnora ASA: Helios Nordic Energy AB doubles the PV portfolio to 1 GW

Magnora ASA: Helios Nordic Energy AB doubles the PV portfolio to 1 GW

10.8.2021 12:15:09 CEST | Magnora ASA | Non-regulatory press releases

10 August 2021 - Swedish solar PV company Helios Nordic Energy AB (Helios) has

added another 10 projects in the southern part of Sweden - equivalent to

potentially 500 MW - to its portfolio, which now totals 1 GW.

In February 2021, Magnora ASA invested in the company to speed up development of

projects and owns 25% of the shares in Helios. As of today, Helios has reached a

development portfolio equivalent to 1 GW, which is 6 months earlier than

projected when Magnora made its investment.

"Our progress demonstrates that Helios has an effective business development

team and methodology and is an attractive partner to landowners. The company's

next target is to increase the development portfolio to 2 GW by the end of 2022

in well suited locations," says CEO of Helios Andreas Tunbjer.

Helios is now also preparing to invite appropriate investors for parts of its

portfolio in the southern part of Sweden where several projects will soon reach

ready-to-build status.

"The Nordic utility scale solar PV is attracting a growing interest from buyers

throughout Europe, supported by technology development and further cost

reductions in the solar value chain. Helios has positioned itself very well in

this context to become one of the leading players in the region," says Magnora

EVP Operations Peter Nygren.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

* Torstein Sanness, Working chairman, email: sanness at sf-nett.no

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a profitable renewable energy development company

looking for green investment opportunities. Magnora's portfolio of renewable

companies consists of Evolar AB, Helios Nordic Energy AB, Kustvind AB, Magnora

Offshore Wind AS, Vindr Group AS, and a South African SPV. 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/17847805/744/964/Download%20announcement%2

0as%20PDF.pdf