Neoen and Alight begin construction at Hultsfred solar farm (100 MWp), the largest in Sweden

• Neoen and Alight announced the launch of the construction of Hultsfred solar farm  in Småland, south-east Sweden 
• They appointed the Bouygues Energies & Services-Solkompaniet consortium as  EPC contractor 
• With a capacity of 100 MWp, the Hultsfred farm is the largest solar project in  Sweden to date  
• The solar farm is scheduled to be fully operational in 2025 
• 95% of the green energy and of the guarantees of origin produced will be sold to  fashion retailer H&M Group 

Paris and Stockholm, October 25, 2023 — Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading producers of exclusively  renewable energy, and Alight, a leading solar developer and independent power producer in Europe, have provided notice to proceed to a consortium of Bouygues Energies & Services and Solkompaniet under an EPC (Engineering, Procurement and Construction) turnkey contract, signalling the start of construction of  Hultsfred solar farm. With a capacity of 100 MWp¹, it is, to date, the largest solar project to reach construction  stage in Sweden. Commissioning is scheduled for 2025. 

Jointly developed and owned by Neoen (majority shareholder) and Alight, Hultsfred solar farm will be  connected to the E.ON local grid distribution system, in Hultsfred, Småland, south-east Sweden. The farm will be built using low-carbon photovoltaic panels installed around the runway of Hultsfred airport. It is expected to generate enough electricity to cover the consumption of over 18,000 Swedish homes. 

The project is underpinned by a long-term power purchase agreement (PPA) signed end of 2022 with H&M Group, under which the solar farm will provide the Swedish fashion chain with 95% of the renewable energy and guarantees of origin produced. The agreement will play an important role in H&M Group’s goal to only  source renewable electricity by 2030 at the latest.  

Laetitia Prot, Head of Business Development for Neoen Sweden, said: “I would like to congratulate our development partner Alight, and our contractors Bouygues Energies & Services and Solkompaniet for this  great achievement. Hultsfred solar farm will be our third Swedish asset after Storbränkullen wind farm and  Storen Power Reserve battery: our three-pronged, long-term approach is an ideal response to Sweden’s need for a secure supply of competitive, local, renewable energy, as it transitions to a net-zero carbon economy by 2045.”

Harald Överholm, CEO of Alight, commented: “It is exciting to move the Hultsfred solar farm into the construction phase, made possible by our fantastic collaboration with Neoen, E.ON, H&M Group, Bouygues and Solkompaniet. As the largest solar project in Sweden to date, it is not only in line with Alight’s mission  to add more green megawatts to the grid, but it is a remarkable step forward for the country as a whole, as  it accelerates the transition to a more sustainable future.” 

Martin Höhler, CEO of E.ON Energidistribution, added: “This solar farm will be an important addition to electricity production in southern Sweden, where demand for cheap electricity is highest. Interest in connecting this type of facility to the grid is growing all the time, which is both good news for the climate and  for the expansion of Swedish electricity production.” 

Xavier Barbaro, CEO and Chairman of Neoen, concluded: “I would like to thank our team in Sweden for  this latest achievement. We are very proud to be launching the construction of our third asset and first solar farm in the country, the outcome of fruitful collaboration between France and Sweden. Since 2020, we have invested almost €150 million in Sweden and we will further accelerate. Neoen operates on four continents and Sweden is one of our most promising countries.” 

¹From a capacity announced of at least 90 MWp