Alight secures €46 million to finance a solar park in Finland

Stockholm-based solar programmer Alight has actually safeguarded EUR46 million in elderly financial obligation funding to start its initial large Finnish solar task, a 100 MWp solar park in Eurajoki.

This turning point comes as component of a bigger center contract with ABN AMRO and SEB, made to money over 300 MWp of solar parks throughout Finland.

Warren Campbell, Chief Executive Officer at Alight, states: “ We praise ABN AMRO and SEB for their management in funding the eco-friendly change, shown by this dedication to sustaining large solar advancement in Finland. We anticipate enhancing our existing connection with SEB and developing solid connections with ABN AMRO, specifically due to future funding requires called for to develop out our substantial pipe of 800 MW+ of Finnish solar tasks“

Alight has actually been scaling its renewable resource profile throughout the Nordic area, intending to increase Europe’s change to tidy power. The firm, established in 2013 (after that Eneo Solutions), has actually placed itself as a leading independent power manufacturer, concentrating on business power acquisition arrangements (PPAs) and large solar advancements.

The contract will certainly work as a replicable structure, allowing Alight to fund 3 extra tasks from its Finnish pipe, completing greater than 200 MWp.

In total amount, the firm is readied to protect over EUR110 million in the red funding. Considered that Finland’s set up solar capability stood at 1.2 GW at the end of 2024, according to the Finnish Solar Power Organization, this growth can enhance the nation’s solar energy framework by around 25%.

This funding complies with Alight’s EUR110 million elderly financial obligation center safeguarded with Rabobank in September, set aside for the advancement of 220 MWp of little- to medium-scale solar parks throughout Sweden.

Lisa McDermott, Handling Supervisor, Power Change, Job & Facilities Financing at ABN AMRO, states: “ Finland is devoted to the EU’s power and environment targets, and to minimizing its dependence on imported nonrenewable fuel sources, as confirmed by its positive renewable resource plans and motivations. Alight has a praiseworthy performance history of structure and running solar parks, and we’re happy to sustain the firm in its objective to increase the change to an extra lasting future.“

With this most recent round of funding, Alight remains to press ahead its enthusiastic growth approach in Finland and past.

Tuomas Salonen, Head of Job & Facilities Financing Finland at SEB, states: “ At SEB, we identify the necessity of the eco-friendly change and are enthusiastic regarding funding tasks that increase it. Support Alight’s 300+ MWp profile will certainly be absolutely nothing except transformative for the nation’s power landscape“

By safeguarding this significant funding contract, Alight aims to play a vital function fit Finland’s renewable resource future, assisting the nation fulfill its sustainability objectives while broadening the Nordic solar market.

The message Alight secures €46 million to finance a solar park in Finland showed up initially on EU-Startups.