September 26 (Renewables Now) - Swedish infrastructure investor Niam has joined forces with domestic solar developer Solkompaniet to develop and build an up to 500-MW portfolio of solar parks in southern Sweden.
The projects will require a total investment of more than EUR 300 million (USD 290.2m), Niam said last week, adding it will provide financing both for the development and construction of the solar parks. The investor is taking part in the initiative, underpinned by a framework agreement, through its infrastructure fund Niam Infra Fund.
Work is already ongoing on the first two photovoltaic (PV) projects, the first one of which, Ostra Eneby outside Ostergotland province’s Norrkoping city, is planned to be completed by the end of 2024. Each of the two will add 80 MW of power generation capacity. They will be followed by more such schemes over the next two years.
Once in operation, the solar parks in the proposed portfolio will be capable of generating enough electricity to meet the demand of 120,000 homes in central and southern Sweden, the partners estimate.
"Sweden's electricity demand is predicted to double as a result of the electrification that is now taking place, and solar can relatively quickly meet part of the increased demand in southern Sweden, where there is significant near-term need,” said Sverker Akerblom, CEO of Niam Infrastructure.
(EUR 1.0 = USD 0.967)