Finland. Utajärven Solarpark Oy & Skarta Energy Solarparks Oy
| Date of agreement: | 29 Oct 2024 |
|---|---|
| Country: | Finland |
| Customer: | Utajärven Solarpark Oy & Skarta Energy Solarparks Oy |
| Amount in EUR: | EUR 25 million |
| Maturity: | 4 years |
| NACE sector / loan type: | Electricity, gas, steam and hot water supply |
Project
The loan has been provided for the Finnish Utajärven Solarpark Oy and Skarta Energy Solarparks Oy for the financing of two solar park projects in Finland. The loan is supported by the InvestEU programme under NIB’s Framework on Clean Energy Transition.
The loan will finance a solar park in Finland, which will be built in the municipality of Utajärvi in Northern Ostrobothnia. The second project is located in Pälkäne in the Pirkanmaa region. The two projects will add renewable energy capacity in Finland.
Utajärven Solarpark Oy and Skarta Energy Solarparks Oy projects are being developed by Skarta Energy Oy (“Skarta Energy”). Skarta Energy is a developer and producer of renewable energy, owned by the infrastructure investment specialist CapMan Infra II fund and energy construction expert NYAB AB. Skarta Energy specialises in emissions-free, industrial-scale solar power projects. Skarta Energy’s goal is to achieve 800 MWp of solar power capacity in its own production by the end of 2028.
Fulfilment of NIB's mandate
The Utajärvi solar park will add up to 103 MWp, generating 94 GWh per year of new renewable energy generation capacity.
The Pälkäne project will add up to 5 MWp, generating 4.9 GWh per year of new renewable energy generation capacity.
The two projects will add in total approximately 108 MW of solar power to the Finnish price area. In the short-term, solar power will support the stabilisation of the power system.
The investments contribute to Finland’s decarbonisation journey. The estimated annual power generation of the projects is approximately 99 GWh/a. This equates to around 30 000 tonnes of avoided CO2 emissions per year.
Sustainability summary
Sustainability proofing has been carried out in accordance with the InvestEU Fund requirements.
