Swedish solar power firm Alight has purchased its first solar park in Denmark from European Energy.
The Lidsø project, located on the island of Lolland, is set to reach a capacity of 215MWp when it is put in service in 2025, according to Alight.
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Leading Nordic bank Skandinaviska Enskilda Banker (SEB) Group will provide a $139m loan for the Swedish company to complete the transaction.
European Energy will oversee the construction and operations of the park.
“We are pleased to see Alight acquiring Lidsø solar park, a project we have carefully developed and secured with long-term power purchase agreements,” chief executive of European Energy Knud Erik Andersen said of the sale.
“Importantly, European Energy remains committed to Lolland Municipality, where we have multiple projects under development.
“We continue to work closely with the municipality to ensure that renewable energy investments contribute to local employment and attract outside investment,” Andersen added.
Warren Campbell, chief executive of Alight said: “Our acquisition of Lidsø solar park, which European energy has done a fantastic job developing, will help meet the country’s rising electricity demand and marks the beginning of our plans to contribute to Denmark’s energy transition.”
He told Bloomberg TV that “it’s more of a buyer’s market than it was a couple of years ago”, and that while “historically we have been more of a developer, developing our own projects, but certainly in the market now, we see an opportunity to do deals.”
The purchase comes as the Nordic renewables market feels a squeeze. Swedish battery developer Northvolt AB filed for bankruptcy last week and Danish Green Hydrogen Systems announced it was restructuring after it failed to get financing to stay afloat. Danish Better Energy Group also entered restructuring in December.
