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Norsk Solar: raises 130 MNOK for further growth

  • Sector: Energy
  • Date: October 30, 2020

  • Company: Norsk Renewables develops and invests in renewable energy in emerging markets.

Norsk Solar has raised NOK 100 million in a combined debt and equity financing, where an additional NOK 30 million will be raised.

With a NOK 20 million investment, Aega ASA joins Norsk Solar with a 6% stake, giving the company a value over NOK 300 million. Aega is a Norwegian listed investment company that primarily owns and operates solar parks in Italy. Norsk Solar have achieved a lot of success since their establishment in 2017, and we look forward to continue of this journey going forward, says Nils Petter Skaset, CEO at Aega.
Norsk Solar has quickly become a significant player in the financing and construction of solar power plants to multinational companies in emerging markets. During 2020, Norsk Solar expects more projects in corporate markets in Southeast Asia and Latin America. Increasingly low development costs mean that we can outperform traditional energy sources on price, at the same time as customers reach their sustainability goals, says Øyvind L. Vesterdal, general manager of Norsk Solar.