Helios Nordic Energy AB (Helios) has passed 7 GW in total project pipeline and secured its first lease agreement in Finland

28 Aug 2023 10:39 CEST

28.8.2023 10:39:32 CEST | Magnora ASA | Non-regulatory press releases

For some time, Helios has been by far the largest and most profitable developer
of solar PV and battery projects in Sweden. In the spring of 2023, Helios
established a subsidiary in Finland, and in August, Helios Finland signed its
first land agreement for an attractive location. The experience of the Finnish
team, combined with a rapidly expanding list of prospects, has paved the road
for rapid, future growth.

Like Magnora ASA, Helios itself aims to incentivize talented managers. Helios
owns 92% of the Finnish business. Eight percent of the shares in Helios Finland
is owned by local management.

As of 25 August, Helios's portfolio consists of 7,157 MW of which battery
storage projects account for roughly 1.5 GW. These figures do not include four
projects (147 MW) that have been transferred to customers. Helios has sold 955
MW of solar PV. These will eventually provide Sweden with 1 TWh of electricity.

The figures above do not include Helios's share of projects in Finland, Norway,
and Sunbeam (a specialist in small-scale solar PV). Magnora ASA holds 40 percent
of the shares in Helios.

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) invests in renewable energy development projects and
companies. Magnora's portfolio of renewable companies consists of Helios Nordic
Energy AB, Kustvind AB, Magnora Offshore Wind AS, Magnora Solar PV UK, Hafslund
Magnora Sol AS, Magnora South Africa, and AGV. In addition, Magnora has legacy
revenues from its previous design business and potential milestone payments from
the sale of Evolar AB (sold to First Solar Inc). 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/17847805/2574/3583/Download%20announcement
%20as%20PDF.pdf

More information:
Access the news on Oslo Bors NewsWeb site

598086_Download announcement as PDF.pdf