Through its Niam Infra Fund, the Norwegian real asset manager Niam has joined forces with solar developer Solkompaniet to construct a 500 MW solar portfolio in southern Sweden. The portfolio’s solar projects will be able to power 120,000 households in central and southern Sweden. More than $297.7 million will need to be invested in them. Under the framework agreement, Niam and Solkompaniet are now constructing two 80 MW solar facilities. One of these is the Östra Eneby solar facility located outside Norrköping, which is said to be the most progressed among the two It is situated outside of Norrköping. By the end of 2024, the Östra Eneby project is expected to come online.
Within the next two years, the two companies plan to begin constructing new solar parks in accordance with the framework agreement. Niam primarily invests in real estate and infrastructure in the Nordic countries and northern Europe. The Niam Infra Fund was started by the company in 2021.
In September 2022, Ilmatar Solar announced plans to build a 550 MW solar park in Sweden. Reportedly, the project will be constructed in the municipality of Motala, Stergötland. Once completed, it would produce enough energy to power 32,000 local homes. To build the facility, Vinnergi, a consulting firm, and Ilmatar Solar inked a contract. Additionally, the landowner and the two partners have a lease agreement in place.