January 22, 2025

Pareto Solar Fund establishes Norway’s largest solar power plant

Pareto Solar Fund AS (“PSF”), managed by Pareto Alternative Investments AS, is set to establish Norway’s largest solar power plant, with a total installed capacity of over 7,500 kWp. This state-of-the-art facility will generate more than 6 million kWh of renewable energy annually, equivalent to the consumption of approximately 375 Norwegian households. The solar power plant will be installed on one of Norway's largest and most complex logistics properties, under development by Logistic Contractor Norge AS ("LC) and owned by Niam AS, supplying clean energy to the tenant, Ahlsell Norge AS, and contributing to a more sustainable energy future. Read the press release below.

“We are proud to develop and construct Norway’s largest warehouse in a single phase, and equally proud to establish Norway’s largest solar power plant in close collaboration with Ahlsell, Pareto, and Niam. The property also features a geothermal heating system, making the building produce significantly more energy than it consumes. This provides Ahlsell with a modern and efficient main warehouse, ready to meet future energy needs,” says Jonas Fløtre, Business Developer at LC.

With a total installed capacity of over 7,500 kWp and as many as 12,000 solar panels, the plant will be Norway’s largest in both rooftop and ground-mounted solar power systems.

Jonathan Barfod, Henrik Bull Svarva, and Christian Gjæver Rendall, who manage PSF, have leveraged their interdisciplinary expertise over the past year in close collaboration with LC’s project organization to bring the project to fruition. The process has included extensive negotiations with all contractual parties.

“This project demonstrates how Pareto is accelerating the transition to renewable energy production by combining solid investment experience with the strategic utilization of property potential. It also highlights how crucial interdisciplinary collaboration is in achieving ambitious sustainability goals,” says Christian Gjæver Rendall, Technical Manager Solar at Pareto.

This initiative marks an important step towards decentralized renewable energy production and strengthens Pareto’s position as Norway’s leading owner and manager of solar power plants. With a total installed capacity exceeding 50 MWp and an additional 25 MWp under development, this project serves as a crucial stepping stone towards the goal of reaching 100 MWp in the near future, adds Henrik Bull Svarva.

The property was acquired in the spring of 2024 by fund manager Niam before its development was completed.

The solar power plant, designed for the property under development by LC, is modeled on the roof and facades by Solcellespesialisten.

“When evaluating the purchase, the property’s environmental profile—with geothermal heating and a substantial solar power plant—was one of several key purchase criteria. For Niam, it is only natural to utilize roof and wall surfaces for green energy production whenever possible and economically viable. A third-party solution with Pareto proved to be a good fit for all parties involved,” says a satisfied Morten Roland, Country Manager for Niam.

PSF finances and owns the solar power plant, while the installation is carried out by solar contractor Solcellespesialisten. This means that neither Ahlsell, Niam, nor LC incurs any costs for the project. A solar power plant of this scale would not have been possible without a professional player like Pareto, ensuring favorable conditions for all parties involved.

“The collaboration with Pareto is both exciting and educational. Their high standards for technology and solutions motivate us to continuously improve and innovate. This partnership significantly contributes to our development as Norway’s leading solar contractor,” says Hans Fr. Harbitz, Key Account Manager – Industry at Solcellespesialisten.

The solar power plant is designed to produce more energy than the property consumes. Since approximately 60 to 70 percent of the production is fed into the grid, Ahlsell has chosen to lease about half of the solar power plant while purchasing only the amount consumed by the property at spot price from the remaining portion.

“At Ahlsell, our goal is to be a leader in sustainable development within our industry. With Pareto’s solar power plant on the property, we gain cost predictability for electricity while also facilitating further electrification and sustainability at our new main warehouse. Pareto’s flexibility and expertise in the process have enabled a contract model that allowed for a significantly larger project—something they were uniquely able to offer,” says Jonas Ebbestad, Property and Administration Manager at Ahlsell.

Link: https://kommunikasjon.ntb.no/pressemelding/18393641/pareto-etablerer-norges-storste-solcelleanlegg?publisherId=17847598

More news

See all news

Pareto Solar Fund establishes Norway’s largest solar power plant

Pareto Solar Fund AS (“PSF”), managed by Pareto Alternative Investments AS, is set to establish Norway’s largest solar power plant, with a total installed capacity of over 7,500 kWp. This state-of-the-art facility will generate more than 6 million kWh of renewable energy annually, equivalent to the consumption of approximately 375 Norwegian households. The solar power plant will be installed on one of Norway's largest and most complex logistics properties, under development by Logistic Contractor Norge AS ("LC) and owned by Niam AS, supplying clean energy to the tenant, Ahlsell Norge AS, and contributing to a more sustainable energy future. Read the press release below.

Debt financing of Adven Group Oy

Pareto Alternative Investments AS, on behalf of institutional investors, has participated in a multi-currency c. EUR 675 million (equivalent) infrastructure debt financing of Adven Group Oy, an energy infrastructure provider in the Nordics and Baltics.

PEF Acquires Logistics Property in Lillestrøm

Pareto Eiendomsfellesskap (PEF), is pleased to announce the acquisition of Idun Industri’s HQ location Hvamveien 1. The property has a highly central and strategic location in Hvam, Lillestrøm, 20 min. north of Oslo. With immediate access to the E6 highway, proximity to both central Oslo and Oslo Airport, the location provides easy access to central Norwegian logistics routes.