Nordic Solar

Welcome Patrik ☀️

On 1 January, Patrik Setterberg joined Nordic Solar's Management team as new CFO.

"I’ve been looking forward to joining Nordic Solar A/S and working with the rest of the company's Management team to set the direction and to head a skilled finance organisation. It’ll be very interesting to contribute to the growth already achieved by Nordic Solar and collaborate on supporting the company's development going forward, while focusing on creating long-term value for shareholders," says Patrik Setterberg.

Patrik brings more than 15 years of considerable experience of finance functions in, for example, the energy industry, where, for a number of years, he was part of Vestas’ finance organisation, since 2021 CFO of Vestas Development.

Patrik Setterberg’s former role at Vestas Development has provided him with valuable experience of the renewable energy sector and the market drivers that characterise the development of large onshore energy projects. In addition, he brings experience from his previous positions at Danske Bank and Nordea, where he worked with renewable energy investments, among other areas.

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Nordic Solar sælger solpark i Frankrig og gennemfører hermed sit tredje strategiske frasalg i 2024 ☀️

Nordic Solar har gennemført en vellykket transaktion for salget af den operationelle solpark Montmayon i Frankrig med en kapacitet på 2,8 MWp.

Frasalget markerer Nordic Solar’s første frasalg i Frankrig som en del af selskabets strategi om at fokusere sin portefølje af operationelle solparker inden for de primære markeder, selskabet er aktive i, og samtidig recirkulere kapital til investering af nye storskala-solparker.

”Det første frasalg af en solpark i vores franske portefølje er en væsentlig opnåelse for os, og det er tilmed det andet frasalg, vi gennemfører inden for få uger. De nylige transaktioner viser, at vi eksekverer på vores strategi, og vidner samtidig om vores fokus på at generere langsigtede afkast til vores aktionærer. Solparken har været en del af vores operationelle projektportefølje i otte år, hvor den har vist stærk performance. Nu sælger vi projektet for at styrke vores vækst og værdiskabelse som led i vores strategi,” siger Holger Bang, Chief Investment Officer i Nordic Solar.

Nordic Solar fokuserer fortsat på at optimere sin portefølje og vurderer løbende mulighederne for at frasælge yderligere aktiver.
Med i alt tre frasalg gennemført i 2024, er dette det højeste antal solparker, som selskabet har solgt fra på et år.

Nordic Solar A/S enters into major credit agreement with Ringkjøbing Landbobank A/S on a double-digit million amount for its first BESS project in Denmark ☀️🔋

We are happy to announce that we have signed a credit agreement for our first battery storage project, which is located in Borup near Hillerød north of Copenhagen. The agreement covers construction financing which, subsequent to grid connection, is replaced by project financing spanning several years. The battery project in Borup, which Nordic Solar began constructing in the third quarter of this year, has a storage capacity of 5 MW/10 MW 🔋⚡

"It’s an important agreement we’ve entered into with Ringkjøbing Landbobank on our first Danish battery project, and we’re very pleased that it’s now been concluded. We’ve been extremely satisfied with our collaboration on the financing and found Ringkjøbing Landbobank, throughout the process, to be a highly competent business partner who is well-versed in the BESS market. To ensure scaling and the continued roll-out of battery storage projects in the Danish and other markets, it’s crucial that energy producers and financial partners can enter into agreements that focus on strengthening the conditions which, also in future, will make BESS investments attractive as we expect these to play an increasingly prominent role in the European energy market," says Holger Bang, Chief Investment Officer at Nordic Solar.

Ringkjøbing Landbobank is also satisfied with the agreement, which helps batteries gain ground as a new addition to investments in renewable energy projects in Denmark and other countries.

“For more than 30 years, Ringkjøbing Landbobank has contributed to financing renewable energy in connection with the green transition. We see the development of the BESS market as an important step in the development at a time when the profile risk of renewable energy production is increasing. The BESS market in the Nordics is still in its infancy, and we are therefore pleased to have successfully concluded this credit agreement in collaboration with EIF (European Investment Fund) and Nordic Solar", says Dan Junker Astrup, Credit Manager at Ringkjøbing Landbobank.

At the end of Q3 2024, Nordic Solar will have battery storage projects totalling 311 MW in its development portfolio by means of hybrid projects across European markets, where the company currently has operations in 13 countries ☀️🌍