As part of the agreement, Alight has reached financial close on €46 million of senior debt for its first Finnish project - a 100 MWp solar farm in Eurajoki currently in late-stage development.
The facility agreement for the Eurajoki solar farm will be replicated to finance three additional projects in Alight's near-term Finnish pipeline, totaling 200+ MWp and more than 110 million euros in debt financing. At the end of 2024, Finland's total installed capacity was 1.2 GW, according to the Finnish Solar Energy Association. As such, this framework financing agreement to finance 300+ MWp could boost Finland’s installed capacity by roughly 25 percent.
The financing follows a €110 million senior debt facility that Alight secured with Dutch lender Rabobank in September, which will finance 220 MWp of small- to medium-sized Swedish solar parks.
“We applaud ABN AMRO and SEB for their leadership in financing the green transition, illustrated by this commitment to supporting sizable solar development in Finland” said Warren Campbell, CEO at Alight. “We look forward to strengthening our existing relationship with SEB and establishing strong ties with ABN AMRO, particularly in light of future financing needs required to build out our extensive pipeline of 800 MW+ of Finnish solar projects.”
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