Magnora ASA: Helios Nordic Energy AB reaches solar PV portfolio of more than 3.5 GW

09 Mar 2023 07:25 CET

9.3.2023 07:25:49 CET | Magnora ASA | Non-regulatory press releases

Magnora ASA (Magnora) is proud to announce that its portfolio company Helios
Nordic Energy AB ("Helios") has reached a solar PV portfolio of more than 3.5
GW. This marks a major milestone for the company as it expands its presence in
the Swedish market and further strengthens its commitment to the global
transition towards sustainable energy.

In addition to growing its pipeline of early phase solar PV projects, Helios has
successfully sold 620 MW of its solar PV projects to renowned international
investors over the last 18 months. Earlier this year, Helios handed over the
first of two projects sold to Solgrid in 2022.

In addition, Helios is progressing the construction works according to plan for
the first solar park being delivered to Commerz Real, located in the
municipality of Västerås. Helios is also a minority shareholder in Magnoras
latest venture, the Norwegian solar PV developer Hafslund Magnora Sol AS, in
cooperation with Hafslund.

In February 2021, Magnora ASA made its first investment in Helios. Magnora owns
40% of the shares and is the company's largest investor.

«The successful expansion of its solar PV pipeline demonstrates Helios' ability
to identify suitable land and efficiently cooperate with landowners, local
communities and grid companies in order to progress the projects towards a
ready-to-build stage. In addition, Helios can provide procurement and
construction management in as well as technical management services during the
operations of the solar PV park. We are confident that the experience and
expertise of the Helios team will enable us to continue to develop more
projects, deliver value to our stakeholders and promote a sustainable future,"
says Erik Sneve, CEO of Magnora.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com
* Torstein Sanness, Executive chairman, email: sanness at sf-nett.no

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) has a legacy royalty business that is re-invested in
renewable energy development projects and companies. Magnora's portfolio of
renewable companies consists of Evolar AB, Helios Nordic Energy AB, Kustvind AB,
Magnora Offshore Wind AS, Magnora Solar PV UK, Hafslund Magnora Sol AS, Magnora
South Africa, and AGV. The company is listed on the main list on Oslo Stock
Exchange under the ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/2165/2914/Download%20announcement
%20as%20PDF.pdf

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