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Helios was established in 2019, by the three founders Andreas Tunbjer, Magnus Rahm and Johan Lundin, with the purpose to develop utility scale solar power projects in Sweden. Since its inception, the team has managed to build a solid and efficient development platform, resulting in multiple transactions with notable tier 1 investors. Approximately 1 GWp of solar PV projects have been sold, and to date, more than 300 MWp ready-to-build projects have been handed over to investors.
Today, Helios is active in Sweden, Finland and Norway, with a current project pipeline exceeding 11 GWp, including both PV and BESS projects.
EY Corporate Finance has advised the owners of Helios, which includes its founders, early stage investors and Magnora ASA (OSE: MGN) in the divestment of 100% of the shares to Vinci Concessions through a competitive M&A process.
Vinci Concessions is part of Vinci Group, a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. Vinci Concessions will acquire Helios through its subsidiary Sunmind which recently established itself in Sweden and which currently has activities in France and Portugal.
The transaction is anticipated to close in June, following FDI approval.
In addition to M&A advisory, EY provided financial vendor assist services in relation to the transaction.
EY has previously advised Helios in several divestments of solar PV projects to international Tier 1 investors in the renewable industry.