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Meet six of our shareholders here

Kim René Pedersen, Partner in Curo Capital
Pernille Foss, Board member and shareholder
Tommy Andersen, Founder of byFounders
Jesper Ryby, Founder of Ryby Hvidevarer A/S
Michael Moesgaard, Entrepreneur
Frederik Heegaard, Co-owner of Nørrebro Bryghus

Nordic Solar A/S

  • A green investment

  • Investment in the development of industrial solar parks

  • Expected return of 7-11% annually

  • Return the past 7 years averages at 9.7%

  • Annual dividends

  • Geographical diversification across 10 European countries

  • The Management also as co-shareholders

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Read the latest annual report

Facts about Nordic Solar

Established in 2010

50+ employees

Total investments
of 535 EUR million

180 parks in ten different countries

650+ shareholders

Annual returns of 9,7%, the last 7 years

Why solar energy?

In “Global Energy Perspective 2019”, McKinsey & Company predicts that in 2035 more than half of the worlds energy consumption will come from sustainable green energy, and that before 2050 solar energy will be the single largest energy source. They also estimate that towards 2050, USD 12.000 bil. will be invested in solar energy globally.

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Why Nordic Solar?

»It is our strategy to be a little conservative and bring a precautionary consideration when investing in new solar parks. This means, that the cash flows we have bought into, we also achieve. It gives a lot of confidence among shareholders that we can produce the returns that have been promised. We get the return we are meant to.« says Christian Sagild, the chairman of the Board at Nordic Solar.

Frequently asked questions

What is the strenght of one Nordic Solar?

The merger will create the growth platform needed to fulfill the ambition of becoming the Nordic region’s leading solar energy company. With strong competencies throughout the value chain, we will as a single company, be much stronger in the market, and create significant optimizations in the financing of the company’s projects, as well as possible ongoing disposal of minority interests.

We will also be able to create an attractive risk-adjusted return for the shareholders in the future.

How is growth and return the potential for one company?

Over the last 12-18 months, we have built up a large development portfolio of new projects in Denmark, Italy, Poland, Greece and Portugal with more on the way.

These are projects that will be built over the next 1-5 years and will, if they all succeed, triple the company’s capacity up to 1 GWp. Construction in Poland and Portugal is in full swing.

During the period, we expect to be able to deliver between 7% and 11% in returns to the shareholders.

What have the historical returns been?

8.5% in Nordic Solar Energy A/S since 2015 14,9% i Nordic Solar Global A/S siden 2019

What is the minimum investment?

The minimum investment in Nordic Solar is EUR 100,000.

How is the share price calculated?

The price is calculated according to the same principle as the valuation of the individual solar park, so that the price at all times best reflects the fair value of the total portfolio of solar parks.

What is the leverage in the company?

The ratio of debt financing currently amounts to approx. 50% in Nordic Solar A/S. The loan financing is primarily taken out as fixed-rate, non-cancellable loans. In order to optimize returns for our shareholders, the goal is to have a slightly higher degree of loan financing.

What are the biggest risks when investing in solar energy?

Developments in electricity prices, inadequate due diligence or unrealistic budgets are among the most significant risk. Historically, many solar parks have been subsidized in the form of high settlement prices for electricity production. Any retroactive changes to these subsidies have been the biggest single risk. However, the market is moving very fast towards subsidy-free solar parks, where electricity now, in most countries, is sold on market terms, either from day to day or on longer more predictable contracts. In the future, the development in electricity prices will therefore pose an increasing risk.    

An investment in a solar park is largely based on assumptions and budget prerequisites, and deviations from these can affect future returns. The quality of these budgetary assumptions is thus significant for risk and return. The risk can be minimized through quality in both budgeting and calculation methods, combined with thorough technical, legal and financial pre-analyzes (due diligence).

When can i expect my money to be invested?

Usually between 2-5 months, sometimes even faster. Theoretically, it can take up to 12 months, but that is based on a very conservative assessment.  

Can you as a shareholder sell your shares, and what does it cost?

To the extent that the company in question has the liquidity to do so, a shareholder may, without notice* sell their shares back to the company, at the current monthly price less an administration fee of 1%.

Formally, both companies have a general meeting resolution that authorizes the board of directors to buy back shares. In short, the authorization is the option to buy back 10% of the equity to the extent that the company can find the necessary liquidity for it.

It has been agreed with the Board of Directors that Nordic Solar Energy has earmarked EUR 670,000 of a credit in the bank for a possible repurchase, a similar credit is expected to be established in Nordic Solar Global

*For tax purposes, shareholders who wish to sell their shares back to the company must obtain prior approval from SKAT.

What is the difference between investing with you, compared to your competitors?

Our customers praise us for a straightforward and transparent business model with a fair, market cost structure, where all significant decisions are made in accordance with shareholders’ wishes and the guidelines set by the Board of Directors. If you compare Nordic Solar with similar companies in the industry, it is especially on the cost side and the realistic estimates and assumptions that form the basis for each individual investment decision that shareholders highlight as decisive for their choice of partner.

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