DIF acquires majority stake in Swedish solar developer Alight, accelerates pipeline delivery

Facebook
Twitter
LinkedIn
Reddit
Email
DIF capital partners has invested US$150 million in Alight Energy. Image: Alight Energy.

Swedish solar developer Alight Energy has received a US$150 million investment from DIF Capital Partners to accelerate the deployment of its near-term solar pipeline. The agreement sees the investor take a majority stake in Alight, coupled as it is with a secondary buyout of some existing shareholders.

A developer of subsidy-free solar projects, Alight has a current pipeline of 1GW capacity under development in the Nordics and a further 170MW pipeline across Europe. This investment, it says, will spur the majority of these projects to completion in the next two years.

Alight CEO Dr Harold Overholm said: “We are excited to work closely with DIF on progressing the corporate transition to renewables; they share our vision for the industry and the urgency of our work to accelerate the energy transition. Corporate power usage accounts for up to 70% of global electricity consumption, so making a prompt and effective shift to renewable energy is crucial.”

Having previously set a goal of 1GW of installed solar assets by 2025, Alight now targets 5GW of power purchase agreement-backed projects across the Nordics and Europe by 2030. The company recently signed agreements to build “Sweden’s largest solar farms, three solar parks with a total capacity of 90MW. It also says that it is due to complete the country’s largest co-located solar-plus-storage plant in December, at a 12MW solar park in Linköping.

DIF partner and head of investments for DIF Infrastructure VII, Gijs Voskyul, said: “We also share Alight’s vision on how to accelerate the energy transition in Europe and more specifically for their C&I customers, whilst also providing them with energy security at low cost in the current high power price environment.”

DIF capital partners also acquired a majority stake in solar developer ib vogt in October 2021.

29 November 2022
PV ModuleTech EMEA in Malaga on 29-30 November 2022 will address the factors underpinning the changing PV module landscape, gathering together all the key stakeholders across the value-chain from module production to field testing. Join us for presentations from the leading players in the sector, clearly identifying the opportunities and challenges set to impact module supply to Europe and the Middle-East over the next few years.
28 June 2023
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!

Read Next

November 25, 2022
Ukrainian energy company DTEK has said it is ready to restart operations at the 10MW Tryfonivska solar power plant in the liberated Kherson region.
November 24, 2022
France-headquartered renewables provider Voltalia has signed a 350MW, 15-year solar power purchase agreement (PPA) with Renault Group.
November 24, 2022
Canadian investor Ontario Teachers’ Pension Plan Board has signed an agreement to invest US$805 million in a convertible equity portfolio financing with NextEra Energy Partners to help it acquire a 2GW portfolio of solar, storage and wind assets across the US.
November 23, 2022
Europe will benefit from a new research and innovation (R&I) project intended to advance the continent’s tandem solar PV cell manufacturing and production capabilities, focusing on tandem silicon-perovskite cells.
November 23, 2022
Prescinto, a renewable energy asset performance management (APM) platform, has entered into a partnership with Greek solar developer SunSolarWind IKE to apply its APM software to 70MW of solar PV projects.
November 23, 2022
LONGi Green Energy Technology has signed an investment agreement to set up a 10GW monocrystalline module manufacturing facility in China’s Guangdong Province.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 29, 2022
Malaga, Spain
Solar Media Events
February 22, 2023
Leonardo Royal Hotel London Tower Bridge
Solar Media Events
March 14, 2023
Berlin, Germany
Solar Media Events
March 21, 2023
Lisbon, Portugal
Solar Media Events
June 6, 2023
Napa, USA