EY financial advisor to SunSpark Nordic in securing funding for roll-out of solar parks in southern Sweden from re:cap

On 27 October it was announced that SunSpark Nordic, a leading Swedish developer of PV solar parks, signed an agreement with Switzerland-based re:cap. Under the agreement re:cap will acquire the ready-to-build solar parks and provide the equity funding for the construction, while SunSpark Nordic will provide long-term asset management services. EPC will be provided by HP Solartech.

SunSpark Nordic has unique concept with developing small-scale solar parks and has established an innovative cooperative structure with Telge Energi, a leading Swedish regional utility and electricity retailer in Sweden, to enable the access and sale of solar-labeled electricity to SME clients in Sweden.

Comments Pontus Ringaby, CEO and co-founder of SunSpark Nordic:

“We see a strong appetite for sustainable energy solutions from Swedish enterprises and a large interest to procure solar based power. We believe we have the optimal approach as we can work very fast with strong partners such as re:cap and Telge while also supporting the local need for power capacity in the grids. Working with EY, being the leading global financial advisor in the renewable sector, in the transaction, has given us access to a large pool of experience of structuring renewable and specifically solar transactions and proved very successful. EYs relationships with the global investor base has been a key factor to the successful outcome and we are very satisfied with EYs support”

EY provided sell-side M&A advice with global reach out to dedicated investors into renewable energy in a highly competitive process as well as tax structuring advice and again proved its ability to break new ground in the Nordic renewable energy industry. SunSpark Nordic has unique concept with developing small-scale solar parks and has established an innovative cooperative structure with Telge Energi, a leading Swedish regional utility and electricity retailer in Sweden, to enable the access and sale of solar-labeled electricity to SME clients in Sweden.

Read more on TelgeEnergi's pressrelease.