Helios Nordic Energy, Major deal in Nordic solar energy sector

Helios Nordic Energy, the leading solar power developer in the Nordics, has signed binding agreements to sell all outstanding shares to SunMind a subsidiary of VINCI, the French leader in concessions, energy and construction.

The shareholders in Helios Nordic Energy AB (“Helios", “Company”) have signed binding agreements to sell all outstanding shares to SunMind, a wholly owned subsidiary of Vinci Concessions, and Helios has entered into an extensive strategic partnership.

Helios was established in 2019, by the three founders Andreas Tunbjer, Magnus Rahm and Johan Lundin, with the purpose to develop utility scale solar power projects in Sweden. Since its inception, the team has managed to build a solid and efficient development platform, resulting in multiple transactions with notable tier 1 investors. Approximately 1 GWp of solar PV projects have been sold, and to date, approx. 300 MWp ready-to-build projects have been handed over to investors.

Today, the Company is active in Sweden, Finland and Norway, with an extensive pipeline of PV and BESS projects.

“We are very proud of the journey we have made with Helios. Through determination and a very strong commitment from our team we have built trust among investors, and we have been one of the pioneers introducing a new energy production source at scale to the Nordic energy mix”, says Andreas Tunbjer, CEO of Helios. “And now, we are very excited to enter the next chapter by becoming a part of SunMind and the VINCI group. With their support we will be able to strengthen our capabilities and accelerate our business even further.”

The founders and current management will continue in their respective roles after the completion of the transaction.

“I would also like to express my deep gratitude to the early investors and to the Board of Directors in Helios, for all of your support in building this business”, concludes CEO Andreas Tunbjer.

“I am pleased to welcome Helios and its team within VINCI Concessions, experts in providing energy renewable sources thanks to solar and energy storage business in Nordic countries”, says Nicolas Notebaert, CEO of VINCI Concessions.

The sellers were advised by Carnegie Investment Bank and EY Corporate Finance throughout the transaction and Setterwalls Advokatbyrå and BAHR acted as legal advisors.

Closing of the transaction is subject to the FDI approval conducted by the Swedish authority ISP.