Svea Solar gets US$100m+ investment from CarVal to fund utility-scale growth

Facebook
Twitter
LinkedIn
Reddit
Email
Svea Solar will use the cash injection to expand its utility-scale presence in Europe. Image: Unsplash

Global investment manager CarVal has invested €100 million (US$107 million) in Swedish solar company Svea Solar to support its expansion of utility-scale solar plants in Europe.

Svea Solar is expanding its Swedish utility-scale platform and CarVal’s investment will be used to help Svea Solar become an independent power producer (IPP) with a target of 500MW of solar PV, the company said in a media statement.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Svea Solar is also looking to expand its international presence. The company aims to start establishing utility-scale solar parks abroad by expanding into other European countries, with Cyprus first on the list.

A report from renewables advisory firm Pexapark yesterday, however, noted how volatile European energy prices may be masking huge price cannibalisation for renewable projects, with Spain, Germany and Sweden studied for the report.

“This partnership with CarVal will give us the muscle to build our own projects and to keep our strong position in Sweden while we also expand into other European countries,” said Erik Martinson, CEO and co-founder of Svea Solar.

“We are excited to have Svea Solar as one of our partners in Europe,” said Philip Blix, managing director at CarVal Investors, which has also recently invested €400 million (US$455 million) in IPP AMPYR Solar Europe to fund 2GW of PV development.

“As the market leader in Swedish utility-scale solar, we look forward to funding their growth. The capital intensive nature of the clean energy transition means that partnerships like this remain a key opportunity set for CarVal,” said Blix.

Earlier this year, Svea Solar announced another investment of €100 million that would be focused at the European residential PV sector.

Speaking with PV Tech Premium after that announcement, Martinson discussed the renewed surge in residential solar in Europe, why the market is not being held back by supply chain constraints and why interest from consumers in a broader suite of energy products is supporting its business model.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

September 17, 2025
US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.
September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
QatarEnergy has signed an EPC agreement with Samsung C&T for its 2GW Dukhan project. 
September 17, 2025
For the third year in a row, self-consumption installs have fallen in Spain, with 611MW of new additions in the first half of 2025, according to a report from trade body APPA Renovables.
Premium
September 17, 2025
PV CellTech: Martin Pochtaruk, CEO of North American solar module manufacturer Heliene, says US producers must learn to survive without tax incentives.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA