Aims to be the leading solar energy company in the Nordic region:

Nordic Solar merging companies as part of ambitious growth strategy

Nordic Solar merges its two investment companies and its management company into one joint public limited company. The merger will create the growth platform needed to fulfil the ambition of becoming the Nordic region’s leading solar energy company. The merged Nordic Solar A/S has a balance sheet total of EUR 535
million and generates revenue of EUR 40 million a year in 10 European countries.

The solar energy company Nordic Solar is now merging its three companies into one. The merger will create significant optimisations in regard to the financing of the company’s projects, and it is part of the ambition to become the Nordic region’s leading solar energy company.

The merged Nordic Solar A/S has a balance sheet total of EUR 535 million, generates revenue of EUR 40 million a year and has operations in 10 European countries. According to Christian Sagild, Chairman of the Board, the merger of the three companies is important to the high growth ambitions of Nordic Solar:

“Being closer to realising our vision than ever before is due to the fact that we and our investors have built up strong competencies throughout the value chain. We are now joining forces in a strong joint company, which has even more financial muscle and strength to seize the opportunities and pursue our ambition to become the Nordic region’s leading solar energy company, ” says Christian Sagild.

While the former Nordic Solar Energy invested exclusively in active and established solar parks, Nordic Solar Global held a strong portfolio of construction projects and solar parks under development. Nordic Solar Management, on the other hand, was responsible for identifying and creating investment opportunities for the two investment companies. Now the three companies are merged into one.

According to Nikolaj Holtet Hoff, Managing Director and one of the founders of Nordic Solar, the three companies have each played important roles in establishing the company’s strong position and the opportunities that Nordic Solar A/S now faces:

“The solar energy market has changed drastically in recent years, and in order to accommodate to market trends, we find it important to secure the future of our company, so that we can continue to create great returns for our investors. By merging Nordic Solar’s activities into a single company, we create the proper solid platform for growth, and the merger will provide optimised financing opportunities for development projects as well as the opportunity for ongoing divestment of minority interests in operational solar projects,”
says Nikolaj Holtet Hoff.

The merged Nordic Solar A/S currently has approx. 300 megawatts in operation or under establishment as well as a strong development portfolio, which in the recent future will be able to contribute an additional 500 megawatts. This means that the ambition to own and operate a production of 1 gigawatt – equivalent to the electricity consumption of about half a million households – by 2025, is within reach.

About Nordic Solar A/S
Since its establishment in 2010, Nordic Solar has focused on sustainable energy combined with an attractive return to its more than 500 investors. Nordic Solar, which invests both in completed solar parks and in development and construction projects of large industrial solar parks, has a balance sheet total of EUR 535 million and generates revenue of EUR 40 million a year in 10 European countries.

www.nordicsolar.eu
For more information, please contact Camilla Rose, Communications Manager at Nordic Solar: +45 28 19 29 09 or [email protected]