Commerz Real is investing in Swedish solar farms for the first time for its impact fund Klimavest. The five photovoltaic projects are at an advanced stage of development and have a rated output of 246 megawatts peak. The developer is the Swedish company Helios Nordic Energy, which is currently developing around 70 projects in the Nordic and Baltic countries with a volume of around 2.3 gigawatts. In May this year, Commerz Real acquired two photovoltaic projects in Sweden with Helios for an institutional fund.

"This investment strengthens the diversification of the Klimavest portfolio in several ways. With Germany, France, Spain, Finland and now Sweden, the fund investments are already geographically spread over five key European markets. We are also expanding the role of photovoltaics in the energy mix of the Klimavest. Solar energy is a proven key technology and indispensable for a successful energy transition," comments Michael Henn, Head of Green Deal Infrastructure at Commerz Real.

The five solar parks are project developments that are expected to be connected to the grid in 2023 and 2024. Four are being built in the greater Stockholm area and one project in the surrounding area of Gothenburg. Helios is responsible for continuing the project development until the project is ready for construction, supervising the construction until completion and the ongoing technical operation of the plants. According to figures by Eurostat, the green electricity produced is expected to cover the demand of around 30,000 average Swedish households per year.