All set for new record year for solar energy:

Nordic Solar raises new capital of a quarter of a billion Danish kroner in three weeks

  • In just three weeks, the Danish company Nordic Solar A/S has raised almost a quarter of a billion Danish kroner in new capital among its 120 new and existing shareholders after having increased its capital by DKK 50 million in December 2021.In total, Nordic Solar expects to attract DKK 700 million to DKK 1 billion during 2022.
  • The funds will be used for existing and future solar park projects in yet another year of solar energy being a key focal point in the green transition.
  • Nordic Solar left 2021 with record revenue that will be approximately 30 per cent higher than in 2020
  • The expectation for future returns is also growing as recent years have seen the company develop and build its own solar parks to an increasing degree rather than continuing its initial focus of investing in operational solar parks.
  • According to experts, the need for additional production capacity has never been higher than it is now.

In 2022, Nordic Solar expects to raise new capital of a total of DKK 700 million to one billion, not only for existing solar park projects, but also for an expansion of the company’s pipeline of development projects. While the raising of capital in January was expected to bring in DKK 150 million, Nordic Solar succeeded in raising significantly more, in just three weeks, among its 120 investors, a third of whom will become new shareholders of the company.

Nordic Solar CEO, Nikolaj Holtet Hoff, welcomes the great interest in the company and its capital increase, which will be used to help Nordic Solar reach its ambitious growth targets:

“We are very pleased with the support for our raising of capital, which exceeded our expectations. In 2021 alone, we brought almost 250 new shareholders on board, and now we welcome even more shareholders who share our vision that solar energy is the green energy of the future. We have big ambitions for the future at Nordic Solar, and in 2021 we changed our business strategy to be ready to own and operate at least 1 gigawatt in 2025,” CEO Nikolaj Holtet Hoff.

Focus on growth
A lot of capacity is needed. The current transition from fossil to green energy has created a vacuum that requires a significant and swift production capacity increase. The dramatically increasing need for solar energy results in a competitive demand for solar parks, which is why Nordic Solar, operating in ten countries across Europe, is focusing on
building a solid pipeline of development and construction projects to ensure growth for the next five years.

The capacity of solar energy in Denmark is expected to grow by 47 per cent annually until 2025, and Nordic Solar is progressing favourably in terms of meeting these expectations. The company aims to triple production compared to 2021, which by then will be able to deliver sustainable green power to over half a million homes.

For more information, please contact:
Head of Communications & Sustainability
Camilla Rose, +45 28192909, [email protected]

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