In an expansion of their partnership, Industriens Pension and Better Energy are planning more than €800 million ($872 million) of new solar photovoltaic investments in Denmark, Sweden and Poland, with a capacity of more than 1 gigawatt.
The expansion is expected to result in around 15 new solar parks by the end of 2024, which will provide green power to consumers and businesses in Northern Europe. Industriens Pension and Better Energy will each own 50 percent of the completed solar power parks. Better Energy will be responsible for development, construction and operation, as well as the sale of energy from the parks.
“The new parks will be another step towards ensuring a more independent energy supply, and they have a very good climate effect per euro invested,” said Peter Lindegaard, CIO of Industriens Pension. “At the same time, we expect the solar parks to provide satisfactory, long-term returns, so we are excited about the investment for several reasons.”