Alight secures €46 million financing from ABN AMRO and SEB to finance a 100 MWp of solar park in Finland
Stockholm, Sweden, March 4, 2025 — Alight, a leading Nordic solar developer and independent power producer, has signed a facility agreement with banks ABN AMRO and SEB which will serve as a framework financing agreement to be utilized for the financing of the construction and operation of more than 300 MWp of solar parks in Finland. As part of the agreement, Alight has reached financial close on €46 million of senior debt for its first Finnish project — a 100 MWp solar park in Eurajoki currently in late-stage development.
The facility agreement for the 100 MWp Eurajoki solar park will be replicated to finance three additional projects in Alight's near-term Finnish pipeline, totaling 200+ MWp and more than €110 million in debt financing. At the end of 2024, Finland's total installed capacity was 1.2 GW, according to the Finnish Solar Energy Association. As such, this framework financing agreement to finance 300+ MWp could boost Finland’s installed capacity by roughly 25%.
The financing follows a €110 million senior debt facility that Alight secured with Dutch lender Rabobank in September, which will finance 220 MWp of small- to medium-sized Swedish solar parks.
Warren Campbell, CEO at Alight, says: “We applaud ABN AMRO and SEB for their leadership in financing the green transition, illustrated by this commitment to supporting sizable solar development in Finland. We look forward to strengthening our existing relationship with SEB and establishing strong ties with ABN AMRO, particularly in light of future financing needs required to build out our extensive pipeline of 800 MW+ of Finnish solar projects.”
Lisa McDermott, Managing Director, Energy Transition, Project & Infrastructure Finance at ABN AMRO, says: “Finland is committed to the EU’s energy and climate targets, and to reducing its dependency on imported fossil fuels, as evidenced by its favorable renewable energy policies and incentives. Alight has an admirable track record of building and operating solar parks, and we’re proud to support the company in its mission to accelerate the transition to a more sustainable future.”
Tuomas Salonen, Head of Project & Infrastructure Finance Finland at SEB, says: “At SEB, we recognize the urgency of the green transition and are passionate about financing projects that accelerate it. Backing Alight’s 300+ MWp portfolio will be nothing short of transformative for the country’s energy landscape.”
Contact
Meredith Popolo
PR Director
meredith.popolo@alight-energy.com
About Alight
At Alight, we’re on a mission to kick carbon off the grid by helping energy-intensive businesses switch to solar. We develop, own and operate onsite and offsite solar projects across Europe and sell the clean energy to businesses at a low, fixed cost backed by a power purchase agreement (PPA), always independent of government funding or subsidies. By 2030, we aim to have an installed capacity of at least 5 GW, paving the way for a more sustainable future.
About ABN AMRO
ABN AMRO is a Dutch bank for retail, corporate and private banking clients, offering a full range of financial products and solutions. Our focus is on Northwest Europe. ABN AMRO’s purpose is Banking for better, for generations to come. Headquartered in Amsterdam, the bank serves over 5 million clients and employs more than 19,000 people. Please visit us at www.abnamro.com.
About SEB
SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, we have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in our presence in more than 20 countries worldwide, with around 19,000 employees. Read more about SEB at sebgroup.com.
