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

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