Greenfield
The Company is maturing a 40 GW onshore greenfield portfolio consisting of onshore wind, solar and battery projects in the Nordics, the UK, Germany and France. This is led by experienced development teams, with a proven track-record of greenfield project origination and development in these markets. Final project realisation will be dependent on a number of factors, such as permitting, fulfilment of projects milestones and commercial viability.
The Company has a dynamic approach to realising value from its portfolio and seeks to explore options to divest projects throughout the value chain, depending on market conditions at the time. For the largest projects, the strategy will be to divest prior to incurring significant construction costs.
UK, Germany and France
Since launching its large-scale greenfield business in 2023, the Company has successfully built a strong platform for growth and originated a pipeline of large-scale solar and battery projects across the UK, Germany, and France. With experienced development teams in place, the Company is now advancing these projects to more mature stages.
United Kingdom
- Strong pipeline with 24 GW of solar and 12 GW of battery projects
- First sales process initiated for the first project at the ready-to-permit milestone, a 1.4 GW solar and 500 MW battery project in the East Midlands, an ideal location for solar developments
- Large-scale projects classify as Nationally Significant Infrastructure Projects (NSIPs), and benefit from a streamlined permitting process designed to accelerate developments
Germany
- Advancing a range of solar and battery projects towards project milestones
- First project expected to reach the ready-to-permit stage during 1H 2025
- Optionality with agricultural solutions increase permittability
France
- Secured first land rights and accelerating efforts to acquire additional land
- Advancing initial projects towards the ready-to-permit milestone
Nordics
In the Nordics, the Company is progressing a range of stand-alone and co-located project opportunities with an estimated total capacity of around 1 GW, ranging from early-stage projects in the screening phase, through to projects with construction permits in place moving towards investment decisions. This allows the Company to organically grow its portfolio, optimise power generation and crystalise further value from its operational assets, which includes projects aimed at extending asset lifetimes, re-powering and consolidation of ownership.
Ancillary services
The Company is setting up its largest wind farms to provide ancillary services to the grid, to create additional revenue streams alongside traditional power generation. The Metsälamminkangas (MLK) wind farm started generating revenues from ancillary services in 2024, and work is ongoing to implement ancillary services on the Karskruv wind farm.