Magnora ASA: Helios Nordic Energy AB hands over another 21 MW to customer

17 Mar 2023 07:00 CET

17.3.2023 07:00:00 CET | Magnora ASA | Additional regulated information required
to be disclosed under the laws of a member state

Magnora ASA (Magnora) is proud to announce that its portfolio company Helios
Nordic Energy AB ("Helios") is handing over a 21 MW solar PV prospect to a
leading independent European solar energy producer (IPP) this Thursday 16 March.
The transaction was announced last year.

Going forward, Helios will support the buyer with project management,
procurement management and technical management (CMA and TCMA) for the project
located in Southern Sweden.

"This is the third handover in rapid succession from Helios. In total, 55 MW
(final deliveries) of 620 MW (sold) of projects have so far been handed over by
Helios to its energy partners in 2022 and 2023. It is symptomatic of the speed
of execution at Helios", says Erik Sneve, CEO of Magnora ASA. "We are pleased to
see ever more projects maturing into actual green sustainable electricity". We
expect multiple project deliveries from Helios going forward in 2023 in the
short to mid-term to its partners.

In February 2021, Magnora ASA invested in Helios. Magnora owns 40% of the shares
and is the company's largest investor. Helios is also a minority shareholder in
the Norwegian solar PV developer Hafslund Magnora Sol AS.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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/17847805/2186/2949/Download%20announcement
%20as%20PDF.pdf

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585515_en_Download announcement as PDF.pdf