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The capital was raised through a private placement which was multiple times oversubscribed, Magnora said. The developer has also appointed former Arise Windpower CEO Peter Nygren as executive vice president of operations. Magnora CEO Erik Sneve said: “Magnora has made numerous exciting renewable investments in the past 18 months. “The funds from this private placement will be utilised to create even greater value for Magnora’s shareholders through our current company and project portfolio, but also to capitalise on additional investment opportunities. “We have access to a solid deal f...

Magnora has entered into an agreement to acquire a 25% ownership stake in a share issue in Swedish solar developer Helios. Despite being a relatively new company, Helios has already developed a project portfolio that currently consists of 11 projects with a total of approximately 300MW installed capacity. Magnora has the option to acquire a further 15% ownership share of Helios, under the agreement’s terms. The share purchase option may be exercised by Magnora from the completion of the first investment and no later than by 15 September 2021. If the option is exercised, Magnora’s ownershi...

Magnora makes a strategic entry into the Nordic solar PV market 02 Feb 2021 Oslo-listed renewable energy development company Magnora has entered into an agreement to acquire a 25 percent ownership share in a share issue in Helios Nordic Energy, a Magnora has the option to acquire a further 15 percent ownership share of Helios. Through a highly experienced team of renewable energy project experts, Helios manages all the steps in the development process including site selection, environmental approvals, grid connection approvals, preliminary design, and procurement, plus financing of project...