NYAB builds Finland's largest solar farm

The solar park will be built in the municipality of Utajärvi in Österbotten in Northern Finland, on a disused peat bog. It will have a maximum capacity of 102 MW and an annual energy production of 97 GWh.

The client is Skarta Energy, a company jointly owned by NYAB and the Capman fund Capman Nordic Infrastructure II, in which NYAB owns 40%. The solar power park in Utajärvi is an important part of Skarta Energy's goal to build 800 MW of solar power over the next five years.

The first phase of the project, including procurement and preparatory work, will begin immediately and is financed by Skarta Energy's majority shareholder, the Capman Nordic Infrastructure II fund. The Finnish Ministry of Employment and the Economy has granted the project an investment grant of EUR 13.3 million. The solar power park will be connected to the main grid under a connection agreement previously signed with the Finnish national grid company Fingrid.

"The agreement with Skarta Energy is important for our entire Finnish organization and it feels great to continue the work of promoting energy self-sufficiency and the green transition together," says Mikael Ritola, Senior Vice President of NYAB Finland.

The entire project will be completed in the first half of 2026.

The contract follows the framework agreement signed in December 2022, whereby NYAB is Skarta Energy's partner for future engineering, procurement and construction.

Founded in Luleå, NYAB is currently registered in Finland and listed on the Helsinki Stock Exchange. Now NYAB is preparing a change of domicile to Sweden and aims for a listing on the Stockholm Stock Exchange in the first half of 2024.

Lennart Håkansson

editor@northswedenbusiness.com