Magnora increases stake in developer Helios as gigawatt-scale PV pipeline takes shape

Facebook
Twitter
LinkedIn
Reddit
Email
Andreas Tunbjer, CEO at Helios. Image: Helios/Magnora.

Renewables investor Magnora has increased its stake in Helios Nordic Energy as the Swedish solar developer looks to add 1GW to its pipeline by the end of next year.

Magnora exercised an option included within the investor’s initial purchase of a 25% stake, struck in February this year, to increase its position in Helios to 40%.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Helios had previous set itself the target of amassing a 1GW portfolio of solar PV development projects in the Nordics. Having reached that capacity milestone six months ahead of schedule, the company is now preparing to invite investors to finance parts of that portfolio in southern Sweden.

Andreas Tunbjer, CEO at Helios, said the business was now working to meet its next capacity milestone target of 2GW by the end of next year.

“Besides the provision of funds to reach this goal, Magnora’s deep insights and competence adds extra value for our business,” he said.

As well as its interest in Helios, Magnora also owns a 40.7% stake in perovskite specialist Evolar. Having initially invested in the upstream tech company in November last year, Magnora increased its stake earlier this summer.

Torstein Sanness, working chairman at Magnora, said solar PV had “reached an inflection point”.

“In Denmark solar PV has experienced a rapid development of installed base and production, and we see a similar development in Sweden. With current electricity prices in the Nordics and Southern Sweden in particular, solar PV is very profitable. We are pleased to further increase our holding in Helios,” Sanness added.

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.

Read Next

July 30, 2025
US solar tracker manufacturer Nextracker recorded revenues of US$864 million and a gross margin of 32.6% in the quarter ending June 27, 2025.
July 29, 2025
US renewables developer Savion, a subsidiary of global oil giant Shell, has formed a new company to take ownership of its solar projects after development.
July 28, 2025
Solar developer Atlas Renewable Energy has secured BRL1 billion (US$179 million) in financing for a 579MW Brazilian solar PV complex.
July 28, 2025
Australia’s Clean Energy Finance Corporation (CEFC) has announced it has invested a record AU$4.7 billion (US$3.09 billion) in large-scale renewables, energy storage, and transmission projects during the 12-month period ending 30 June 2025.
July 28, 2025
KKR has invested AU$500 million in Australia’s CleanPeak Energy to support the rollout of DERs such as rooftop solar PV and battery storage.
Premium
July 25, 2025
At the SNEC expo, Carrie Xiao took the temperature of the industry as it seeks a way out of cutthroat competition and squeezed margins.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK