Alight, an independent solar power producer, has secured €46 million (~$48.07 million) of senior debt for its 100 MWp solar project in Eurajoki in Finland. The company signed the financing agreement with the banks ABN AMRO and SEB.
The facility agreement for the Eurajoki solar project will be replicated to finance three additional projects in the company’s pipeline in Finland totaling over 200 MWp and amounting to more than €110 million (~$114.95 million) in debt financing.
Suvic, a subsidiary of Dovre, is responsible for constructing the Eurajoki solar project in Luvia, as per the engineering, procurement, and construction contract announced on January 8, 2025. In addition, the companies have signed an operation and maintenance agreement for two years, which can be expanded for an additional three years. The project will be built in two locations: the Mikola site, which covers 73 hectares, and the Murro site, which covers a 50-hectare area. The project is currently in the late stages of development.
Tuomas Salonen, Head of Project & Infrastructure Finance Finland at SEB, says, “At SEB, we recognize the urgency of the green transition and are passionate about financing projects that accelerate it. Backing Alight’s 300+ MWp portfolio will be nothing short of transformative for the country’s energy landscape.”
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, large-scale project funding in 2024 increased 21% year-over-year.
Last September, the company also announced the financial closure of €110 million (~$122.56 million) senior debt portfolio financing with the Dutch lender Rabobank. The funding will be used to build, own, and operate small to medium solar projects (up to 50 MW) with a combined capacity of about 220 MW in Sweden.
