Nordic Solar has executed its first strategic divestment of a portfolio of the company’s photovoltaic (PV) plants.

Nikolaj Holtet Hoff, CEO, Nordic Solar and Holger Bang, CIO, Nordic Solar. Photo: Niclas Jessen.

The Danish solar energy company Nordic Solar has executed its first strategic divestment of a portfolio of the company’s photovoltaic (PV) plants. With this first disposal, Nordic Solar sets a new direction for the company, in which strategic divestment of operational solar parks will ensure recirculation of capital for new, major investments in development and construction projects. Moreover, the disposal is a reflection of Nordic Solar’s future focus on large-scale, ground-mounted projects. Nordic Solar expects to divest more solar parks in 2024.

Nordic Solar has divested part of its Italian portfolio of solar parks through the sale of its Sella portfolio located across Italy. The portfolio consists of several rooftop plants with a total capacity of 12.84 MWp. The buyer is an experienced developer and operator in the renewable energy sector, with a focus on Italian operating solar and related infrastructure. Nordic Solar acquired the portfolio in 2018 and retains two solar parks in operation on the Italian market after the divestment.

The company’s first divestment indicates the starting point of its strategic focus on recirculating capital for new investments through disposal of assets. Nordic Solar has shifted its value chain focus and invests solely in development projects in which the company is responsible for the design and construction of the solar parks.

“We’re very pleased to have completed Nordic Solar’s first divestment. It’s a milestone on our growth journey, and combined with our plans for additional divestments, the new year is off to a great start. Divestment is an important part of our business strategy, which allows us to strengthen our pipeline of development projects from greenfield development to subsequent construction and operation through reinvestment. We have a highly experienced team of colleagues working with divestment, which will be a strong focal point in the next few years,” says Nikolaj Holtet Hoff, CEO of Nordic Solar.

Focus on development of large-scale, ground-mounted solar parks
In addition to marking the sale of an asset, the divestment of Sella also reflects the company’s strategic focus on the development, construction and operation of large, ground-mounted solar parks.

“Nordic Solar has taken an important strategic step with the disposal of Sella from our Italian portfolio. In recent years, we have focused on purchasing project rights and developing large-scale, ground-mounted solar parks across the European market. Having completed our first divestment, which we expect to follow up by a number of other divestments this year, we’ll be increasing our value creation and scaling our business focused on volume and capacity, which will enable faster deployment of renewable energy,” says Holger Bang, Chief Investment Officer at Nordic Solar.

For more information, please contact:
Head of Communications & Marketing, Maria Jørvad, Nordic Solar A/S
Tel. +45 20 96 53 79, [email protected]

About Nordic Solar A/S
Nordic Solar is a Danish solar energy company which develops, constructs and operates utility-scale solar parks across Europe. Since its establishment in 2010, the need and the market for renewable energy have increased sharply, and Nordic Solar intends to play a key role in the green transition. The company is owned by approx. 725 shareholders and employs more than 100 employees. Today, Nordic Solar operates solar parks with a total capacity of almost 400 MWp across Europe and has a portfolio of planned development projects of almost 1.6 GW.

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