Renewable energy producer Neoen and European solar developer Alight have commenced operations at the Hultsfred solar farm in Småland, Sweden.
The solar farm, with a capacity of 100MWp, is said to be the country’s largest solar facility.
The facility is connected to the E.ON local grid distribution system, and it began feeding electricity into the grid this April.
The project has been financed by Neoen and Alight, with additional structured debt finance from Danske Bank.
Swedish fashion company H&M Group will source 95% of the renewable energy from the solar farm by 2030, through a long-term power purchase agreement signed in 2022.
Neoen Sweden managing director Laetitia Prot said: “I would like to congratulate our partners Alight, H&M, Equans and Solkompaniet, E.on, and the municipality for this great achievement. Hultsfred solar farm is our fourth asset entering into operation in Sweden, bringing the total capacity of the fleet to 304MW (including Storbränkullen wind farm, Storen Power Reserve and Isbillen Power Reserve).
“With these three complementary technologies of solar, wind and storage at scale, we are actively contributing to Sweden’s clean energy transition.”
The Hultsfred solar farm is a joint venture between Neoen, the majority shareholder, and Alight. It is expected to produce 100GWh of energy annually, enough to meet the needs of approximately 18,000 Swedish households.
The project’s construction was managed by contractors Equans Solar & Storage and Solkompaniet.
French and Swedish companies have been involved in the project at various stages, from ownership to the electricity offtake agreement and construction.
During its construction phase, the solar farm created as many as 120 job opportunities.
Neoen CEO and chair Xavier Barbaro said: “It [the project] is a major milestone for Neoen and a reflection of our long-term commitment. Since 2020, we have invested almost €200m ($233.1m) in Sweden, and we look forward to deepening our contribution.
“We are proud to be playing an increasingly significant role in accelerating the energy transition here in Sweden and around the world.”
This June, Neoen officially inaugurated Portugal’s largest solar park in Azambuja, 70km north of Lisbon.
