The Norwegian renewables company has already raised $300 million of the $700 million, one-year funding it has shouldered to acquire hydro business SN Power from state-owned Norfund.
The renewables business is set to acquire the SN Power hydropower operator belonging to Norwegian state-owned private equity business Norfund, with the $1.17 billion deal expected to go through in the first half of the new year. Scatec said the transaction could offer floating solar opportunities.
In a little over ten years, Northvolt aims to pour 150 GWh of batteries onto the European market, annually. The company is also working to source end-of-life batteries for half its raw materials.
Renewable energy company Eneo Solutions AB has signed a letter of intent for a 20-year power supply deal linked to a 10 MW solar park it will start building in November. The energy buyer is Swedish financial services provider Swedbank. The plant, scheduled for completion by mid-2020, will meet 30% of Swedbank’s electricity demand.