Swedish PV developer Helios Nordic Energy AB enters its largest deal to date with Commerz Real

Pressrelease 2022-12-19

Swedish PV developer Helios Nordic Energy AB enters its largest deal to date with Commerz Real, by selling five large scale PV projects with a total capacity of 246 MWp. The projects are all located in SE3 and will be ready-to-build and delivered to Commerz Real`s Klimavest impact fund in 2023 and start to become operational in 2024.

The electricity produced equals the consumption of around 49 200 households (5000 kWh per household) in southern Sweden where its mostly needed.

-          We are very pleased to strengthen our partnership with Commerz Real by entering this deal. Together we have proven that large scale PV is a viable electricity generation source also for Sweden, says Andreas Tunbjer, CEO of Helios Nordic.

This concludes the second deal between Commerz Real and Helios this year, where the first deal of two projects was settled in early May. One of these projects, the King’s Roar Project outside of Västerås, is the largest PV park under construction in Sweden to date and it will be grid connected in Q2 2023.

-          Solar is growing rapidly and we prove once more that the international fund capital is ready to invest in the Swedish power market. This is great news for Sweden as it contributes to bringing down cost for consumers, says Magnus Rahm, Chief Project Officer of Helios Nordic.

The deal marks the fourth for Helios this year where a total of 15 projects have been sold having a combined capacity of almost 650 MWp. These projects amount to investments of approximately 4 billion SEK.

Helios Nordic Energy AB is a leading Swedish developer of solar and battery storage projects. The company has secured land for over 70 projects in Sweden, Latvia and Lithuania. Helios pipeline is currently above 2.3 GW. 

Commerz Real is the manager for real asset investments of German Commerzbank AG with 50 years of market experience and approximately 35 billion euros in assets under management. The company has already been investing in solar energy since 2005 and in wind energy plants since 2016. At present it manages more than 50 solar power plants and over 40 onshore and offshore wind farms with a total installed capacity of more than 1.5 gigawatts.

Setterwalls acted as legal advisor to the seller in this transaction