Magnora ASA

Regulatory Filings • Mar 30, 2023

Magnora ASA: Helios Nordic Energy AB hands over a RtB project with up to 92 MW capacity to Nordic Solar AS

Magnora ASA: Helios Nordic Energy AB hands over a RtB project with up to 92 MW capacity to Nordic Solar AS

30.3.2023 08:05:00 CEST | Magnora ASA | Additional regulated information

required to be disclosed under the laws of a member state

Magnora ASA (Magnora) is proud to announce its portfolio company Helios Nordic

Energy AB ("Helios") is handing over another solar PV project with an additional

capacity of up to 92 MW. This is the third transfer of ready-to-build projects

in 2023.

The message below also elaborates on the 21 MW project that was communicated on

16 March 2022. The two projects sold to Nordic Solar have a combined electricity

production capacity of 113 GWh.

Helios Nordic Energy AB, a developer of large-scale PV solar parks entered into

an agreement, in June 2022, with Danish solar energy company, Nordic Solar, to

sell four projects from Helios' project pipeline. Two of the four projects have

reached RtB, after obtaining all necessary permits and grid connection

agreements, and have been handed over to Nordic Solar.

The first project is close to Hultsfred airport in southern Sweden and will have

the potential to accommodate for up to 92 MWp capacity, making it one of the

largest official PV solar projects in Sweden entering construction phase.

The other project is in the estate of Medinge, north of Örebro and will have the

potential to accommodate for an installed capacity of up to 21 MWp. The project

has been developed rapidly and has taken less than a year to obtain all

necessary permits and grid connection agreement with the local grid operator

Linde Energi.

"We are very proud to announce these landmark projects that our team has worked

so hard to progress during the past two years. We want to highlight the very

good cooperative approach by all stakeholders, including the County

Administrative Board of Kalmar and Örebro, the municipalities of Hultsfred and

Örebro, grid operator E.ON and Linde Energi, our land owners and not the least

our investor and new owner in this project, Nordic Solar" - says Andreas

Tunbjer, CEO of Helios Nordic Energy,

and continues.

"The Hultsfred and Medinge project handovers confirm our team's ability to

deliver on what we are set out to do- becoming one of the leading renewable

energy developers in the Nordics. In total we have brought approximately 150 MWp

to RtB in a short period of time. This keeps us highly motivated to continue our

efforts in making PV solar one of the leading electricity production sources the

coming years in the Nordics".

The projects will now enter a more detailed planning stage and a tendering

process will commence for the construction works. Final design and capacity will

be established in the coming months. Helios remain active in the projects by

delivering construction management services followed by asset management

services after the solar parks have commenced operation, which is estimated

before the end of 2025. The projects will then produce around 113 GWh

electricity per year to the great benefit of the climate and Swedish electricity

consumers. The solar parks are built and financed completely on market terms

with no state subsidiaries.

Both projects will also play an important role as booster for the local natural

environment, where several measures are planned to increase biodiversity and for

the support of the local wildlife.

Helios has been successfully collaborating with Nordic Solar on the design and

development phases of the two solar parks. The Danish solar energy company,

which develops, builds, and operates solar parks in 12 European countries, is

looking forward to supplying the southern region of Sweden with solar energy:

"We are very happy to enter Sweden and prepared to get started on building two

out of the four solar parks we have planned in the southern region. The demand

for sustainable solar energy has never been higher, and we are very pleased to

participate in increasing production capacity for this area. Our collaboration

with Helios has proven to be very effectful and we're very happy to be able to

move this quick in preparing and establishing the solar parks in Hultsfred and

Medinge," says Nikolaj Holtet Hoff, CEO of Nordic Solar.

About Helios Nordic Energy AB

Helios Nordic Energy AB is one of the leading PV solar developers in Sweden, and

the Nordics, with a project pipeline exceeding 4,3 GW. Helios has in the past

year concluded five transactions with reputable investors. In total fifteen

large scale PV solar plants will be delivered within the next years with a

combined expected capacity of approx. 620 MWp with an estimated investment value

of approx. 4 billion SEK. To this date, four projects have been handed over to

investors, after reaching RtB, with a combined capacity of 150 MWp. Helios has

already commenced construction works of their first solar park, located in the

municipality of Västerås and funded by Commerz Real.

www.heliosnordic.com - http://www.heliosnordic.com

About Nordic Solar A/S

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

operates solar parks on an industrial scale across Europe. Since its

establishment in 2010, the need and the market for green energy have increased

sharply, and Nordic Solar intends to play a key role in the green transition.

The company is owned by approx. 700 shareholders and employs more than 80

employees. Today, Nordic Solar operates solar parks with a total capacity of 359

MWp across Europe and has a portfolio of planned development projects of more

than 1,8 GW.

www.nordicsolar.eu - http://www.nordicsolar.eu

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 Evolar AB, 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/17847805/2215/3000/Download%20announcement

%20as%20PDF.pdf