Independent power producer (IPP) Alight has expanded in the Danish market with the acquisition of a 215MWp solar PV plant.
Developed by Danish developer European Energy, construction of the Lidsø solar park started in the summer of 2024 and it is expected to be commissioned this summer. The project is located in the southern municipality of Lolland.
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A power purchase agreement for the PV project has already been secured with two undisclosed “blue-chip” companies. The project’s acquisition was supported by €127 million (US$139 million) in debt financing from Nordic bank SEB.
Warren Campbell, CEO of Alight commented that the acquisition marked “the beginning of our plans to contribute to Denmark’s energy transition.” Indeed, the Swedish IPP aims to further expand its footprint in Denmark and the other Nordic countries through acquisitions and partnerships.
With its entrance into the Danish market, the IPP now has assets in several European countries, including Sweden, France, Finland, Poland, Spain, and the UK.
Sweden is one of the markets where the company has a strong presence. Last year, the IPP partnered with Swedish solar company Svea Solar and Swedish state-owned forestry company Sveaskog to build a 2GW solar portfolio. Alight and Svea Solar will develop, build and co-own the portfolio of sites, which will be located on land owned by Sveaskog.
The other country where the Swedish IPP has increased its presence in the past few years is Finland, where Alight has a solar portfolio of more than 900MW of projects under development.
Overall, the company is targeting 5GW of operational PV capacity by 2030 across all markets.
