Swedish-based solar assets developer, operator and manager, Alight, has secured €46 million in funding for its 100 MWp solar park in Finland. This will be Alight’s first solar park project in Finland. As part of a signed facility agreement with ABN AMRO and SEB, this will feature as part of a framework designed to finance the construction of more than 300 MWp of solar parks in Finland. The announced €46 million funding in debt will cater for the construction of Eurajoki solar park.
Project factsheet
Location: Eurajoki, Finland
Developer: Alight AB Electricity
Solar park area: 123 hectares
Capacity: 100 Mwp
Annual production: 100 Gwh
Start of construction date: Q1 2025
Status: Under construction
Commissioning date: 2026
Alight’s Eurajoki solar park
The Eurajoki solar park project started construction earlier this year and expects completion by 2026. Once operational, Alight’s first solar park in Finland will join a host of other projects aimed at reducing Eurajoki’s carbon print. These include projects like one of Finland’s two nuclear power plants, the Olkiluoto 3 nuclear power plant. Alight’s €46 million funding for the 100 MWp Eurajoki solar park will produce about 100 Gwh. This will power up to 20,000 homes with fossil-free solar energy. The solar park is also expected to open up construction job roles as the phase progresses.
€46 million in funding and more for Alight’s solar parks in Finland
The Dutch and Swedish lenders facilitating the solar project will also play a financier role for three other Alight projects. These are near-term Finnish solar pipeline which will host more than 200MWp of energy and see to an influx of €100 million in debt financing.
The whole financing framework was put in place to increase Finland’s solar energy capacity by approximately 25%. This will greatly up Finland’s solar energy capacity from the current 1.2GW according to the country’s solar energy association.
The funding has seen sentiments as one “financing green transition” from Alight’s CEO, Warren Campbell. In alignment with Alight’s vision, the €46 million funding for its first 100MWp solar park in Finland is out to finance green transition indeed.
Alight’s CEO also mentioned of the company’s bright and powered future stating the possibility of having another array of more than 800MW of solar projects in Finland. “[…] We look forward to strengthening our existing relationship with SEB and establishing strong ties with ABN AMRO, particularly in light of future financing needs required to build out our extensive pipeline of 800 MW+ of Finnish solar projects.”
In the words of Tuomas Salonen, “Backing Alight’s 300+ MWp portfolio will be nothing short of transformative for the country’s energy landscape.” Tuomas is SEB’s Head of Project & Infrastructure finance for Finland.
