31 August 2023

Solnet Group to develop Southern Finland's largest solar park in collaboration with investment company H. G. Paloheimo

H.G. Paloheimo and Solnet Group join forces for solar park project preparation - Investment valued up to 100 million euros.

Finnish investment company H.G. Paloheimo and internationally operating solar energy company Solnet Group are commencing a collaboration to prepare solar park projects on lands owned by Paloheimo, totaling 165 hectares in the areas of Hausjärvi, Tuusula, and Riihimäki in Southern Finland. Large-scale solar parks will be established in the region, which solar panels are projected to generate 140 MWp of capacity. 

The investment value amounts to potentially 100 million euros, and the project will be executed through a partnership model. The initiative involves preparing the solar parks for the ready-to-build phase, followed by construction led by Solnet. The project ensures the financing of the solar parks and secures future electricity buyers for the energy. The parties have also agreed on an option to incorporate new technology solutions for electricity grid balancing.

"We are delighted to be part of the development of the largest solar power park in Southern Finland together with Paloheimo. The energy demand in the Southern Finland region is substantial and continually growing. Finding solutions to increase renewable energy needs collaborative efforts with our stakeholders and diverse projects," says CEO Kaj Kangasmäki of Solnet Group.

"Green energy is an excellent investment for the future, and we view the development of solar parks as a crucial part of increasing Finland's energy production," states Martti Paloheimo, CEO of H.G. Paloheimo Oy.
The initial phases of the project are set to be completed during the year 2024.

For more information:

Kaj Kangasmäki, CEO, +358 40 501 4429, kaj.kangasmaki@solnet.group

Martti Paloheimo, CEO, +358 503443711, H.G. Paloheimo Oy, martti.paloheimo@paloheimo.fi

Solnet Group
Established in 2014, Solnet Group is a rapidly growing solar energy company with units in the Netherlands, Germany, and Finland. In 2020, the company was listed as the 59th fastest-growing company in Europe on the Financial Times FT1000 list and ranked third in the energy sector. As early as 2016, Solnet Group received the Climate Solver award from WWF. Solnet Group offers comprehensive and high-quality services from consulting and planning to installation throughout Europe. To facilitate our clients' projects, we also provide services for project financing, solar panel maintenance, and repairs. Solnet's clientele includes major investment funds, shopping centers, retailers, as well as storage and logistics companies. For more information, visit www.solnet.group.

H.G. Paloheimo Oy
H.G. Paloheimo Oy is a Finnish family business with roots extending over 130 years. Nowadays, H.G. Paloheimo Oy focuses on investment and real estate operations. Visit www.paloheimo.fi for more information.

Joanna Viileinen,
Head of Marketing and Communication