Magnora ASA: Helios Nordic Energy AB hands over a RtB project with up to 92 MW capacity to Nordic Solar AS

30 Mar 2023 08:05 CEST

30.3.2023 08:05:00 CEST | Magnora ASA | Additional regulated information
required to be disclosed under the laws of a member state

Magnora ASA (Magnora) is proud to announce its portfolio company Helios Nordic
Energy AB ("Helios") is handing over another solar PV project with an additional
capacity of up to 92 MW. This is the third transfer of ready-to-build projects
in 2023.

The message below also elaborates on the 21 MW project that was communicated on
16 March 2022. The two projects sold to Nordic Solar have a combined electricity
production capacity of 113 GWh.

Helios Nordic Energy AB, a developer of large-scale PV solar parks entered into
an agreement, in June 2022, with Danish solar energy company, Nordic Solar, to
sell four projects from Helios' project pipeline. Two of the four projects have
reached RtB, after obtaining all necessary permits and grid connection
agreements, and have been handed over to Nordic Solar.

The first project is close to Hultsfred airport in southern Sweden and will have
the potential to accommodate for up to 92 MWp capacity, making it one of the
largest official PV solar projects in Sweden entering construction phase.

The other project is in the estate of Medinge, north of Örebro and will have the
potential to accommodate for an installed capacity of up to 21 MWp. The project
has been developed rapidly and has taken less than a year to obtain all
necessary permits and grid connection agreement with the local grid operator
Linde Energi.

"We are very proud to announce these landmark projects that our team has worked
so hard to progress during the past two years. We want to highlight the very
good cooperative approach by all stakeholders, including the County
Administrative Board of Kalmar and Örebro, the municipalities of Hultsfred and
Örebro, grid operator E.ON and Linde Energi, our land owners and not the least
our investor and new owner in this project, Nordic Solar" - says Andreas
Tunbjer, CEO of Helios Nordic Energy,

and continues.

"The Hultsfred and Medinge project handovers confirm our team's ability to
deliver on what we are set out to do- becoming one of the leading renewable
energy developers in the Nordics. In total we have brought approximately 150 MWp
to RtB in a short period of time. This keeps us highly motivated to continue our
efforts in making PV solar one of the leading electricity production sources the
coming years in the Nordics".

The projects will now enter a more detailed planning stage and a tendering
process will commence for the construction works. Final design and capacity will
be established in the coming months. Helios remain active in the projects by
delivering construction management services followed by asset management
services after the solar parks have commenced operation, which is estimated
before the end of 2025. The projects will then produce around 113 GWh
electricity per year to the great benefit of the climate and Swedish electricity
consumers. The solar parks are built and financed completely on market terms
with no state subsidiaries.

Both projects will also play an important role as booster for the local natural
environment, where several measures are planned to increase biodiversity and for
the support of the local wildlife.

Helios has been successfully collaborating with Nordic Solar on the design and
development phases of the two solar parks. The Danish solar energy company,
which develops, builds, and operates solar parks in 12 European countries, is
looking forward to supplying the southern region of Sweden with solar energy:

"We are very happy to enter Sweden and prepared to get started on building two
out of the four solar parks we have planned in the southern region. The demand
for sustainable solar energy has never been higher, and we are very pleased to
participate in increasing production capacity for this area. Our collaboration
with Helios has proven to be very effectful and we're very happy to be able to
move this quick in preparing and establishing the solar parks in Hultsfred and
Medinge," says Nikolaj Holtet Hoff, CEO of Nordic Solar.

About Helios Nordic Energy AB

Helios Nordic Energy AB is one of the leading PV solar developers in Sweden, and
the Nordics, with a project pipeline exceeding 4,3 GW. Helios has in the past
year concluded five transactions with reputable investors. In total fifteen
large scale PV solar plants will be delivered within the next years with a
combined expected capacity of approx. 620 MWp with an estimated investment value
of approx. 4 billion SEK. To this date, four projects have been handed over to
investors, after reaching RtB, with a combined capacity of 150 MWp. Helios has
already commenced construction works of their first solar park, located in the
municipality of Västerås and funded by Commerz Real.

www.heliosnordic.com - http://www.heliosnordic.com

About Nordic Solar A/S

Nordic Solar is a Danish solar energy company which develops, builds, and
operates solar parks on an industrial scale across Europe. Since its
establishment in 2010, the need and the market for green energy have increased
sharply, and Nordic Solar intends to play a key role in the green transition.
The company is owned by approx. 700 shareholders and employs more than 80
employees. Today, Nordic Solar operates solar parks with a total capacity of 359
MWp across Europe and has a portfolio of planned development projects of more
than 1,8 GW.

www.nordicsolar.eu - http://www.nordicsolar.eu

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/17847805/2215/3000/Download%20announcement
%20as%20PDF.pdf

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