Alight acquires Danish solar park amid Nordic energy challenges

Swedish power company Alight AB has purchased its first solar park in Denmark, highlighting a shift in the Nordic renewable energy market. The acquisition comes amidst difficulties faced by many renewable companies in the region. Alight's CEO, Warren Campbell, noted that the current market conditions make it a better time for buyers. He stated that the company, which often develops its own projects, is now looking for opportunities to acquire assets. The solar park, named Lidso, is located on Lolland island and will have a capacity of 215 MWp when it opens later this year. Financing for the project includes a loan from SEB AB worth €127 million (around $139 million). This acquisition occurs against a backdrop of recent failures in the Nordic green sector. Northvolt AB filed for bankruptcy in Sweden, and Green Hydrogen Systems in Denmark has entered restructuring. Better Energy A/S also collapsed last December due to a lack of funding. Campbell mentioned that the industry is learning from these failed ventures. Although lenders are being cautious, there is still interest in supporting new projects. Alight plans to continue acquiring more projects and forming partnerships in Denmark, Finland, and Sweden. Founded in 2013, Alight is mainly owned by CVC DIF, part of the private equity firm CVC Capital Partners.