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Nordic Solar
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About Nordic Solar

Company Overview

Name

Nordic Solar A/S, a subsidiary of NRGreen

Headquarters

Hellerup, Denmark

Founded

2010

Size

Over 100 employees (source: nordicsolar.eu). Revenue of EUR 58.9 million in 2023 (source: nordicsolar.eu).

What They Do

Nordic Solar focuses exclusively on solar energy and battery energy storage systems (BESS), developing, constructing, and operating large-scale solar parks across Europe. The company manages the entire value chain from acquiring greenfield sites, land rights, permits, engineering, procurement, construction to integrating BESS and selling electricity (source: nordicsolar.eu). Its products include large solar parks with capacities in the hundreds of MWp, supplemented by BESS for storing excess energy, enhancing grid flexibility and supporting electrification. The parks take approximately 11 months to build and require minimal maintenance after operation (source: nordicsolar.eu). Target markets span growth regions in Europe, including Denmark, Germany, Spain, Portugal, Sweden, and Lithuania, serving large-scale customers through power purchase agreements (PPAs) and direct sales (source: nordicsolar.eu).

Projects & Achievements

Nordic Solar has completed remarkable projects, including the largest solar park in Portugal, the Ínsua park in Alentejo, covering 80 hectares. In Lithuania, they built a 100 MWp park with over 150,000 bifacial modules, supplying around 28,000 households (source: detrasolar.com). Additionally, they have a project in Sweden at the Rottneros paper mill, built on a repurposed landfill site (source: regionvarmland.se). Currently, they are working on two nearly completed solar parks in Spain and Sweden, as well as four Swedish parks in partnership with Helios Nordic Energy (acquired in 2022) (source: nordicsolar.eu).

Recent Developments

In the past two years, Nordic Solar has published its annual report for 2023, showing growth in its portfolio despite revenue declines from lower electricity prices. They secured a EUR 300 million debt facility for expansion and advanced BESS with 315 MW projects to be added before Q2 2024 (source: nordicsolar.eu). Q3 2024 results highlighted a production growth of 18% to 195 GWh, while prices were 24% lower, and two Spanish/Swedish parks were nearing completion (source: nordicsolar.eu). In Q2 2024, they included PPA/hedging sophistication and green additions, with expectations of 2024 revenues between EUR 57-69 million (source: nordicsolar.eu).

Working There

Nordic Solar employs over 100 people in 2023 across development, construction, operations, engineering, procurement, maintenance, finance, and management, with a team emphasizing diverse expertise to execute the entire value chain (source: nordicsolar.eu). The company maintains a fast pace, driven by CEO Nikolaj Holtet Hoff's ambition to accelerate Europe's energy transition, with skilled and dedicated employees driving the construction of multiple parks (source: nordicsolar.eu). Job applicants should check LinkedIn or the careers section on nordicsolar.eu for openings, primarily in Hellerup with project-based roles across Europe (source: linkedin.com).

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