Solgrid i53 Fall 23

EXECUTIVE INSIGHT LEADING THE PROFESSIONAL CHARGE

FALL 2023

ISSUE 53

Sunny Potential

in the Nordics STRENGTHENED BY STRATEGIC PARTNERSHIPS, NORWEGIAN COMPANY SOLGRID IS SET TO TAKE A LEADING POSITION.

EXECUTIVE INSIGHT MAGAZINE

2

I FALL 2023

FALL 2023 I EXECUTIVE INSIGHT MAGAZINE

Sunny Potential

in the Nordics

Strengthened by strategic partnerships, Norwegian company Solgrid is set to take a leading position as a Nordic developer and generator of solar power with a view to becoming a significant part of the energy mix in Scandinavia.

I

n collaboration with power producers, public authorities and grid operators, Solgrid develops and builds solar power plants on an industrial scale. The company, owned by several stakeholders from the energy and investment sectors, has ambitious goals to make solar power an important contributor to meeting the rising demand for energy in the Nordic countries.

3

EXECUTIVE INSIGHT MAGAZINE

I FALL 2023

Solcellespesialisten Norway’s largest EPC, Solcellespesialisten, was chosen to construct the new solar power station in Furuseth.

“Norway presents both unique advantages and challenges to PV installations. One challenge for large scale utility parks in Norway is the ground soil, often laden with pebble rocks. These are remains of moraine terrain from the ice age, demanding innovative adaptations”, says Aksel Pettersen, Head of PV Utility at Solcellespesialisten.

“The advantage of utility parks in Norway is the cold climate and excellent sun conditions during summer”, he continues.

Solcellespesialisten has been Norway’s first mover in most areas PV since its founding in 2005. With a robust team of 300 professionals, including almost 30% engineers, the company stands out in size and experience as Norway’s most formidable

solar EPC, with close to 40 M EUR in equity. In June this year, the company was majority stake acquired

by FSN Capital, one of Norway’s most successful and ESG oriented PE funds.

CEO Carl Christian Strømberg explains some of the driving forces behind the company’s strong growth.

“The willingness to try and fail and push boundaries has given us a strong foundation and reputation. Our dedication to excellence was one reason why Solgrid and Scatec chose Solcellespesialisten as their EPC for their debut utility parks in Norway”, he says.

“Now we are pushing the benchmark on ESG and sustainability. This proves that our value chain is as green as possible and free of forced labour.”

“Looking forward we see beyond Norway, with our first international expansion in Spain”.

Norway’s Largest Supplier & Installer Of Solar Energy Systems Solcellespesialisten is Norway`s largest supplier of solar energy systems.

Our goal is to offer cost-saving and renewable energy solutions for everyone.

We deliver affordable high-quality energyefficient solutions to residential, commercial, agricultural and utility customers.

Our vision is to save the climate with renewable energy. We want to become a leading contributor to a world where all energy consumption is based on renewable energy.

www.solcellespesialisten.no/en Tel: +47 69109065 utility@solcellespesialisten.no

Carl Christian Strømberg, CEO

4

FALL 2023 I EXECUTIVE INSIGHT MAGAZINE

The company has a strong commitment to investing in projects that help mitigate climate change and that support the UN’s sustainability goals. It has a project portfolio in Norway and Sweden at various development phases, with plans for an installed capacity of 2,000 MWp by the end of 2030.

Collaborative model Speaking about the company’s beginnings, Managing Director Kristin Melsnes explains that the owners, who had experience in photovoltaic plants

in the southern part in Europe, decided a few years ago that the time had come to apply that experience in the Nordics. In 2020 Solgrid was established with just 3 people, Melsnes being one of them.

With 20 years of executive experience from high-competence and technology-based environments, including as a board member of various companies within the power and renewable energy, telecommunications and other technology industries, she was the right person to lead the company forward.

“I believe in solar power. Right now, there is a massive gap between supply and demand for energy and much more must be invested in renewables,” she affirms, adding that Solgrid’s fundamental belief is that energy and natural values can coexist, which is why the company offers a collaborative model. Its approach to projects is to create energy for society, while at the same time giving municipalities and landowners added value.

The typical area that the solar power company is looking for is so-

called ‘grey land’, i.e. barren soil with poor growing conditions of 150 to 200 hectares and larger. This can be used exclusively for solar power, or by combined use where e.g. grazing areas and other land use coexist with solar power.

Solar power in Norway Over the company’s short history, much has been achieved. Its first solar power plant, Varberg Norra located on the west coast of Sweden, connected to the grid on 1 October 2021, having become one of Sweden’s larg5

EXECUTIVE INSIGHT MAGAZINE

est solar power plants, with an annual output of over 5,500 MWh of clean solar power.

Following its success in Sweden, Solgrid shifted its focus to Norway. Solar power currently accounts for only a small portion of Norway’s overall power output. However, this is about to change, as the sector has developed significantly in recent years and Norway offers considerable solar power potential.

6

I FALL 2023

Solgrid clearly saw the opportunity and obtained a licence last year for a solar plant projected to be built in eastern Norway, close to the existing power grid. Furuseth Solkraftverk will be the first Norwegian solar power plant on an industrial scale, stretching over 170 acres, with a capacity of around 6.4 GWh of new renewable energy output per year.

The project is progressing as planned

also thanks to a solid and good relationship with Solcellespesialisten, Norway’s largest supplier and installer of solar energy systems.

Solcellespesialisten provides a full value chain link from sourcing to installation and aftermarket support, and is a trusted partner to large real-estate owners, construction companies and private consumers.

Kristin Melsnes explains that the Fu-

ruseth solar plant is expected to be connected to the grid in winter 2023/2024, with others to follow. “Solar power is an absolutely necessary part of the energy mix if we are to reach our climate targets. Solar power, in combination with other renewable energy sources, helps to create balanced energy production and better security of supply in local power grids.

During the next dec-

FALL 2023 I EXECUTIVE INSIGHT MAGAZINE

ade, we will implement solar power equivalent to the consumption of 150,000 households.”

Swedish opportunity She admits that fast, successful progress can only be achieved in partnerships. “Collaboration is the way we want to work going forward.” In line with this strategy, Solgrid has recently signed an agreement with Soltech Energy Solutions, a subsidiary of Soltech Group, to construct a 300MW solar portfolio in Sweden, where Solgrid becomes an investor and owner in several solar park projects that Soltech Energy Solutions will develop, install and operate.

The agreement will represent around SEK2 billion ($185 million) in investment if all of the projects are

approved. The portfolio will predominantly be in the south of the country and the projects will be carefully evaluated based on existing infrastructure and where the solar power plants can harmonize with natural and cultural values.

Kristin Melsnes speaks highly positively about the long-term agreement with Soltech.

“This agreement lays the foundation for a fruitful collaboration which we believe will strengthen both parties’ position in Sweden. Solar energy conditions in southern Sweden are good, and the local need for energy is substantial.

Therefore, we are happy that Soltech Energy Solutions has become our partner for developing solar

power plants at a level that will contribute greatly to the local electricity supply.”

The right expertise Solgrid currently employs 20 people and makes sure that its projects meet the requirements for sustainability. “Our expertise gives us an advantage in that we can more easily combine solar power with other land use. Sustainability is part of our DNA, and our building process is very sustainable, fully in line with nature. We are even looking into ways that would enable us to give more than we take when it comes to climate and nature.”

As the solar power sector is relatively new in the Nordics, the company is using its acquired experience and capabilities,

as well as suppliers, in international markets. “As we grow, we would like to help develop a local supply chain. Having a supply chain and production lines closer to where we are building solar plants would further reduce our environmental footprint.”

The company is growing rapidly, she confirms, saying that with solid owners who think long-term, Solgrid will be an important factor in the further development of solar power in the Nordics.

“Ground-mounted solar power can become a significant part of the energy mix, in northern Europe also.

High electricity prices are a signal that we need more energy; this also makes it profitable to expand,” concludes Kristin Melsnes.

7

www.solgrid.no

Ambersarmy.org.uk

EXECUTIVE INSIGHT LEADING THE PROFESSIONAL CHARGE

INTERNATIONAL BUSINESS MAGAZINE Executive Insight Magazine published by J S International Media ©2023