Eco Energy World (EEW) claims to have become the largest solar developer in Sweden after reaching 290MW of projects at an advanced development stage in the country.
Having announced its entry into the Swedish solar sector just last year, EEW now has a PV project pipeline in the country totalling 485MW across 14 sites.
The 290MW portfolio of subsidy-free advanced-stage projects is made up of seven sites, with the majority set to be operational within two years and some smaller plants in the next 12 months.
EEW CEO Svante Kumlin told PV Tech that the company is currently in the process of negotiating offtake deals, with many of the advanced-stage projects expected to be backed by corporate power purchase agreements.
“We would like to wait as long as possible because the power prices are on the way up, so we think it’s a better strategy not to engage and sign up something at this point,” he said.
Set to be built in a southern part of Sweden that was recently affected by power cuts, the seven sites are positioned to provide a boost to the country’s electricity network at the right locations while helping it meet a 2045 net zero target, EEW said.
Kumlin said that while solar project development in Sweden is not any more difficult than in other European countries, the grid connection process “is still quite slow”.
According to EEW, Sweden’s deployed solar capacity is expected to treble to 3.5GW by 2030. Recent announcements from developers in the country’s solar sector have seen Alight reveal plans for three PV plants with a combined capacity of 90MW and Helios Nordic Energy prepare to invite investors to finance projects in southern Sweden.
EEW’s Swedish solar ramp up complements its global 7.4GW development pipeline. A significant project was announced by the company earlier this year that will see it build 300MW of solar co-located with a 200MW hydrogen facility and a 100MW energy storage system in Australia.