Alight obtains EUR 110m financing for solar projects in Sweden

Swedish solar independent power producer Alight on Friday said it has closed a EUR-110-million (USD 122.7m) senior debt with Dutch lender Rabobank to deploy around 220 MWp of solar parks in Sweden.

The portfolio facility will allow Alight to build, own and operate a number of small to medium solar farms, starting with a 4-MW project in Halland, a 6-MW project in Sodermanland and a 15-MW project in Uppland. The rest of the projects will follow in the next two years.

The company said that the facility is believed to be the first of its kind in the Nordics, showing that the market is maturing and lenders are willing to finance the green transition.

“This portfolio financing provides us with the flexibility to finance small- to medium-sized projects, helping to accelerate the renewable energy transition in Sweden at a time when the country is seeing a steep increase in electricity demand,” said Alight CEO Harald Overholm.

Alight develops and owns solar projects across Europe, selling the electricity under power purchase agreements (PPAs). It aims to have at least 5 GW installed by 2030.

(EUR 1 = USD 1.116)

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