Svea Solar targeting market leading position in Europe’s residential PV market after Altor investment

March 28, 2022
Facebook
Twitter
LinkedIn
Reddit
Email
Altor’s major investment in Svea Solar will help the Swedish company grow its residential solar presence in Europe. Image: Svea Solar.

Investment firm Altor Fund V has acquired a significant minority stake in residential solar company Svea Solar with a major investment aimed at accelerating the installer’s expansion in Europe’s residential rooftop market.

Altor will acquire all shares of current shareholder Axsol AB, becoming the lead investor Svea Solar, which it intends to grow to become Europe’s residential solar market leader, covering 80% of the continent by 2026.

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

Altor’s investment will help the Swedish solar company grow and expand its geographical presence in the continent, currently present in five markets (Sweden, Spain, Germany, Belgium and the Netherlands), and with it its staff numbers, from the current 700 employees to add more than 5,000 by 2025.

Moreover, Svea Solar’s financial target for this year is to double its revenue figure from the €100 million (US$109.73 million) achieved in 2021, while doubling its staff numbers by the end of the year.

Erik Martinson, CEO and co-founder of Svea Solar, said: “This enormous contribution from an experienced and engaged investor like Altor will enable us to further contribute to a more sustainable, resilient, and independent energy system.”

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

October 14, 2025
German IPP wpd has started construction at its 140.6MW Marcy solar park in the Nièvre department of central France.
October 14, 2025
Apple will support 650MW of projects as part of a major expansion of its renewable energy investments in Europe, aimed at reducing its carbon footprint.
October 13, 2025
The world is on pace to exceed 3TW of cumulative solar installations by the end of the year, according to a report from DNV.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 9, 2025
Solar PV is the world’s cheapest technology to generate electricity, according to a study from the University of Surrey, in the UK.
October 9, 2025
Germany has awarded contracts to 490MW of solar-plus-storage projects in its latest “innovation” auction for co-located renewables.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK