Skarta Energy signs significant project financing

According to Motiva Oy, there are 24 solar power parks with a size of at least 1 MWp in production in Finland with a combined electricity production capacity of 101 MWp. There is 420 MWp of solar energy in construction in Finland, consisting of 12 solar parks. Three of these projects belong to Skarta Energy.

The share of solar energy in Finland's energy production is increasing – with Skarta Energy constructing quarter of the parks currently under construction

Skarta Energy is a renewable energy developer and producer owned by CapMan Infra and NYAB AB. The company specializes in emission-free industrial-scale solar power projects.

The largest project under construction is the 103.2 MWp Utajärvi park, which is being constructed on a decommissioned peat bog. Once completed, the park will produce 94 GWh of electricity annually, which corresponds to the annual electricity consumption of approximately 16,000 households. The construction of the project began at the beginning of 2024. The construction will take two years, and the park is intended to be put into operation in stages, with the entire project being completed in the first half of 2026.

The Pälkane solar park started its electricity production during the last week of August. The park will be put into operation in stages, and now in the first phase, approximately quarter of its capacity has been connected to the grid. Once completed, the entire park will produce 4.9 GWh of electricity annually.

Several other projects are currently being developed by Skarta Energy.

"The recently negotiated project financing package demonstrates that our solar park projects are executed with high quality and professionalism. With this package, we can further accelerate our growth together with our financing partners," says Skarta Energy's CFO Ville Ojanen.

"Skarta Energy aims to have a solar power capacity of 800 MWp by the end of 2028. The newly signed financing agreement supports our continued growth. I want to thank the entire Skarta team, CapMan, and of course our financiers for their cooperation in securing the debt financing. Preventing climate change requires investments that cannot be made without financing," says the company's CEO Mika Paloranta