1 GW Solar Partnership For Nordic European Nations

Consortium To Target Large Scale Solar Power Capacity In Finland & Sweden

1 GW Solar Partnership For Nordic European Nations

Finland and Sweden are the markets that Skarta, Solarigo and Lumme Energia will focus on to develop 1 GW of solar power capacity. (Photo Credit: Skarta Group Oyj)

  • Skarta, Solarigo and Lummer Energia have announced a partnership for solar PV development worth 1 GW
  • This capacity is planned to be developed as large scale facilities, located in Finland and Sweden for which they could offer long term PPAs
  • High prices of electricity and economic competitiveness of renewables acts as an incentive for the trio to join hands to explore the market

A consortium of Finland’s Skarta Group Oyj, another Finnish industrial solar power company Solarigo Systems Oy and the latter’s parent company Lumme Energia Oy have joined hands to construct new large scale solar parks in Finland and Sweden with a total capacity of 1 GW.

They plan to expand to become ‘the leading operator in the sector in the Nordic countries’.

Working together, the trio said, they have the capacity to carry out the largest solar power projects in Finland on turnkey basis, thanks to their extensive network of contacts with renewable energy investors and conventional power generators. Solarigo has constructed over 160 solar energy projects, and Skarta Group also claims to have considerable experience in energy construction facilities.

The partnership will also undertake land surveys, securing requisite permits, funding, operating the facilities, and the like. Selling completed solar parks is also part of the plan. At this juncture, the trio said they may also offer long term power purchase agreements (PPA) for electricity produced.

Both Skarta and Solarigo say they are currently developing 300 MW solar capacity.

“The construction of industrial-scale solar energy is about to begin in Finland, and these projects are becoming financially beneficial as a result of advanced technology and high prices of electricity,” explained Skarta Group’s CEO Tuomas Hirvonen. “The situation in the energy market puts further pressure on developing self-sufficiency and, by combining our strengths, we can put more effort into not only the green transition but also the improvement of Finnish security of supply.”

At the end of 2021, Finland’s total installed solar PV capacity was only 387 MW while the nation targets to expand it to 1.158 GW by 2030, ‘much below its potential’ according to SolarPower Europe (SPE) that suggests the ambition needs to be raised including through solar auctions.

In its EU Market Outlook for Solar Power 2021-2025 published in Dec. 2021, SolarPower Europe said, Sweden’s aggregate solar capacity till 2021-end was 1.782 GW and ambition to scale it up to 2.212 GW by 2030. The European solar PV lobby association believes Sweden will be a top 10 European solar market in the years to come as it was in 2021 with potential to add 6.3 GW new capacity by 2025 under its medium scenario (see EU Installs Record 25.9 GW Solar In 2021).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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