GreenGo Energy and Nordic Solar partners on 250MWp solar portfolio in Denmark
GreenGo Energy is pleased to announce that it has entered into a partnership agreement with Nordic Solar concerning execution of a portfolio of solar PV projects in Denmark. Under the partnership agreement, Nordic Solar will acquire the project portfolio, and provide financing through development and construction to commissioning (COD).
M74 32MWp Solarpark at Højby near Odense to start construction this year
The new partners target a portfolio of more than 250MWp corresponding to a Nordic Solar investment of more than 1 billion DKK over the next 3-5 years. The solar project portfolio has been structured to provide significant diversification across the Danish landscape and five solar projects have already been acquired by Nordic Solar as part of the agreement, so the partnership has strong momentum already.
Højby solar park: 32MWp near Odense to start construction end of this year
The first portfolio project, Højby solar park, has achieved zoning and building permits from Odense municipality, and construction is scheduled to start end of 2022. The project is located near the Svendborg highway system and will have an annual production of 43GWh green power which is enough to supply 11,000 households. The project is optimally located close to load and infrastructure and is a part of Odense strategic energy transition plans. GreenGo Energy is responsible for the Engineering, the Procurement, and the management of the Construction of the Project.
Shared vision on accelerating the energy transition in Denmark
Nikolaj Holtet Hoff, CEO of Nordic Solar comments: "Renewable energy is in high demand and Nordic Solar is committed to making clean solar energy available for more and more households and companies all over Denmark and Europe. We appreciate the cooperation with GreenGo Energy and have great expectations for this portfolio of Danish solar projects.”
The partnership will help accelerate the energy transition in Denmark with an annual production of more than 330 GWh yearly, corresponding to approximately 1% of Denmark’s total yearly electricity demand today, equivalent to the demand of +85,000 Danish households.
Karsten Nielsen, CEO of GreenGo Energy comments: "We are excited about this partnership with Nordic Solar. The agreement will ensure 150+ million EUR in full cycle financing for 250MWp of our rapidly growing solarpark portfolio under development in Denmark.
Karsten Nielsen continues: “Denmark remain one of the most ambitious green electrification markets with the rapid expansion of new consumers. New consensus is that the demand for green electricity will increase to 100TWh+ by 2030 in Denmark, so there is a continued and significant demand for build-out of renewable generation in Denmark, and zero subsidy solar is the lowest cost and fastest way to move forward.”
About GreenGo Energy
GreenGo Energy was founded in 2011 with the vision to accelerate conversion to renewable energy generation, by an innovative and scalable business model. GreenGo Energy’s 360 full services platform includes origination, development, offtake, engineering, procurement, construction management, O&M and asset management services, fully tailored and bespoke to our client’s needs and investment profile.
GreenGo Energy now has more than 7GWp of solar and storage projects in various stages of development and construction in selected U.S. states and Northern Europe, of which more than 2GWp has achieved full cycle financing through partnership agreements with tier 1 investors in the renewable space. Further information on the Company can be found at www.greengoenergy.com
About Nordic Solar
Nordic Solar is a solar energy company which develops, builds, and operates solar parks on an industrial scale across Europe. The company, located in Copenhagen, is owned by approximately 700 shareholders, and employs 65 employees of 8 different nationalities. Since Nordic Solar was established in 2010, the company has focused on sustainable energy delivering returns to the company's shareholders and green electricity to end users. Today, Nordic Solar has invested 670 EURm in solar parks around Europe www.nordicsolar.eu