Swedish solar developer Solkompaniet and investment firm Niam, through its infrastructure fund Niam Infra Fund, have reached a framework agreement to invest €300 million in utility-scale solar photovoltaics in Sweden.

The two companies will jointly develop and construct solar parks of up to 500MW in the central and southern regions of the country, with the first two solar power plants already under construction, each with a capacity of 80MW.

One of the most advanced utility-scale projects is located near Norrkoping, an area with excellent solar conditions, Niam said. The project is expected to be operational by the end of 2024, with the aim to start developing more projects within the next two years.

CEO Sverker Akerblom said Sweden's electricity demand is expected to double due to electrification currently underway, and solar could meet some of the growth relatively quickly in southern Sweden, where near-term demand is high. According to recent research, solar energy production in Sweden will triple in the next two years.Editor/XingWentao