Ilmatar Solar, a subsidiary of Finnish energy company Ilmatar, has announced plans to build a 550MW solar park in Sweden.
The solar power facility will be developed in the municipality of Motala, Östergötland, and will reportedly be one of Europe’s largest solar power farms.
Once completed, it will generate enough energy to power 32,000 homes in the region.
Ilmatar Solar signed an agreement for the facility’s development with consultant company Vinnergi.
The two partners have also signed a land lease agreement with the landowner.
Ilmatar Solar CEO Christian Gustafsson said: “Together with Vinnergi, we will become a stronger actor on the electricity market.
“Sustainable development is the common denominator throughout the entire process — from agreement to planning and to the construction of the solar parks.
“As a sustainable, long-standing partner, Vinnergi is perfect for us.”
Vinnergi aims to help renewable project developers expedite their growth and address increasing demand for solar energy in Sweden and across the European Union.
The company is also involved in finding sites for renewable energy projects, obtaining permits for them and connecting them to the electricity network, as well as building internal networks and network stations.
Vinnergi business developer Martin Ansell-Schultz said: “We have already received a favourable initial estimate from Svenska kraftnät, Sweden’s transmission system operator (TSO), and the permit process and electricity network issues are in full swing.
“Ilmatar is an interesting partner who, in the long term, will be responsible for the park’s entire life cycle — from construction to electricity sales for years to come.
“They already have experience in the wind power sector, and so they can invest in large-scale production of electrical power directly.”
In July this year, Ilmatar started construction of four wind farms in Finland after securing €135m ($136.7m) in financing from AIP Management.