Stavanger/
Company Update
Norsk Solar is well-established as a fast-growing independent solar power producer (IPP) for commercial and industrial off-takers in targeted high-growth markets. Over the last twelve months, Norsk Solar has achieved multiple important milestones:
- Welcomed
Norfund as a shareholder in Nordic Impact Cooperation AS, which has reached a total ofUSD 31.2m in assets under management -
Secured commitments from Norad for
NOK 20m in project development support plusNOK 20m in risk premium support - Pre-invested to have exclusivity for more than 420 MWp in projects with investment decisions starting in 2023, subject to final positive due diligence and transaction closing
-
Began construction on the first 18 out of 37 MWp in
Brazil - Successfully reached Financial Close with responsAbility for the first project in
Vietnam , ofUSD 4.7m non-recourse debt -
Successfully reached Financial Close with Valora Investimentos for the first project in
Brazil , ofUSD 10m green bond (CRI). -
Signed PPA with global corporate offtaker Lineage for a rooftop project in
Vietnam -
Built a world-class engineering and procurement team located in
Madrid, Spain - Saw all projects for Central Retail enter commercial operation and production
Update to Corporate Strategy
In the second half of 2022, Norsk Solar updated its Corporate Strategy, establishing a new vision in alignment with the growing opportunities in the C&I market and maturing of projects in development and in the pipeline. The strategy outlines a new company vision in line with the increasing corporate demand for renewable power, allowing companies and industry to meet sustainability targets while reducing energy costs.
Commenting on the announcement, Øyvind
Commenting on the announcement, Pål S. Valseth, Chairman of Norsk Solar, says: "The C&I sector is the fastest-growing segment in solar power. With a growing track record and innovative financing platform, Norsk Solar is in a pole position among renewable power producers in our target high-growth markets. We will continue to achieve sustainable growth in the interest of providing long-term value for shareholders."
Contact information
Investors:
Øyvind
+47 900 70 126 | ov@norsksolar.com
Media:
+47 950 95 481 | christine@norsksolar.com
About Norsk Solar
Norsk Solar delivers the power to build a better world. We provide clean, renewable solar solutions to corporate and industrial (C&I) entities in emerging markets. Our high-quality solar PV solutions produce cost-efficient and reliable electricity, helping companies meet their sustainability targets by cutting carbon emissions.
Norsk Solar has over 100 MW in operation or under development and is an established independent solar power producer in high-growth markets.
The company was established in 2017 in Stavanger,
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