Nordic Solar eyes up to USD 150m in fresh capital in 2022

Danish company Nordic Solar A/S, a developer and operator of solar power plants, expects to raise up to DKK 1 billion (USD 150m/EUR 134m) this year to support existing and future projects.

Nordic Solar said in a statement it has recently raised almost a quarter of a billion Danish kroner in new capital from 120 new and existing shareholders against expectations for just DKK 150 million. It anticipates raising between DKK 700 million and DKK 1 billion in total this year.

The company noted that it ended 2021 with a 30% higher revenue compared to its 2020 top line. Its goal is to own and operate at least 1 GW of solar power generating capacity in 2025.

In 2022, the firm aims to triple production compared to the prior year.

(DKK 1.0 = USD 0.150/EUR 0.134)

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