Skarta Energy has signed a project financing agreement worth approximately 50 million euros, which will be utilized to finance its ongoing solar park projects as well as future projects. Currently a quarter of all solar parks under construction in Finland belong to Skarta Energy. Skarta Energy’s first operational solar park in Pälkäne was connected to the grid in August, and the commercial production of the solar park in Callio, Pyhäjärvi, will begin later in 2024. The newly signed project financing agreement will also support the Utajärvi solar park under construction, which is currently one of the largest solar parks in Finland. SEB Corporate Finance acted as the arranger of the financing, with SEB and NIB as the financiers.
According to Motiva Oy, there are 24 solar power parks with a size of at least 1 MWp in production in Finland with a combined electricity production capacity of 101 MWp. There is 420 MWp of solar energy in construction in Finland, consisting of 12 solar parks. Three of these projects belong to Skarta Energy.
The share of solar energy in Finland’s energy production is increasing – with Skarta Energy constructing quarter of the parks currently under construction
Skarta Energy is a renewable energy developer and producer owned by CapMan Infra and NYAB AB. The company specializes in emission-free industrial-scale solar power projects.
The largest project under construction is the 103.2 MWp Utajärvi park, which is being constructed on a decommissioned peat bog. Once completed, the park will produce 94 GWh of electricity annually, which corresponds to the annual electricity consumption of approximately 16,000 households. The construction of the project began at the beginning of 2024. The construction will take two years, and the park is intended to be put into operation in stages, with the entire project being completed in the first half of 2026.
The Pälkane solar park started its electricity production during the last week of August. The park will be put into operation in stages, and now in the first phase, approximately quarter of its capacity has been connected to the grid. Once completed, the entire park will produce 4.9 GWh of electricity annually.
Several other projects are currently being developed by Skarta Energy.
