Solar Power Accelerator AB shows strong Q1 growth - contracts worth of 20,000 MWh and 1.9 MEUR in projected YoY revenue of total 1 TWh and 80 MEUR YoY in scheduled rollout

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May 10, 2023, 11:43 ET

MALMÖ, Sweden, May 10, 2023 /PRNewswire/ -- Solar Power Accelerator ("SPA") has commenced installation and commissioning of solar photovoltaic (PV) panel pilot plants in South Sweden and now signs offtake agreements for roof lease in accumulation worth of 20 000 MWh in generated capacity . The entire rooftop space is expected to accrue an annual revenue of SEK 20 million (1.8 MEUR) in the first phase only out of total 80 MEUR YoY revenue. SPA has to date in the first quarter collected a customer pipeline including an area of roof space for 1.3 million square meters, which, in aggregate, converts to an estimated YoY revenue run rate of SEK 260 million (23 MEUR) and 250 GWh in annual PV-production. This is enough to fuel 60 000 villa households and hypercharge 85 000 electrical vehicles.

Solar Power Accelerator AB ("SPA") is a micro-producer, micro-grid operator and solar as a service provider of surplus electricity from rooftop based solar power. The company builds, operates and owns the rooftop based solar plants which it resells as surplus electricity on the spot market or through Power Purchase Agreements. SPA finances complete investments of solar cell installations and addresses property owners with industrial premises with optimally designed roofs that are suitable for installation, service and operation for 25 years.

With a clear impact driven vision consistent with EU's Fit for 55 climate targets and UN's Sustainable Development Goals for 2030 to decarbonise and scale back C02 emissions to 1990 levels, Solar Power Accelerator is a high growth infrastructure initiative to aid the ailing energy system in Sweden and Europe.

We have a close partnership with RSA (https://rsa-elodata.se), Sweden's leading EPC-contractor on solar panels. In addition we collaborate with highly reputable construction builders and real estate developers in the region (i.e., sub-electricity sector SE4). RSA sources, mounts and commissions the first pilot plant integrated with premium inverters from SolarEdge (https://www.solaredge.com/us), a category leader of photovoltaic arrays, energy generation monitoring software and battery energy storage solutions.

The incredibly strong traction we see is nothing short of an unequivocal clear signal from the market as to the superiority of the only renewable energy source, i.e sun-radiation, which, together with battery storage, will be the dominant paradigm in the coming 20-25 years. Our target is to supply at least 1 TWh and 5% of the demand in solar power in Sweden until 2030. At the same time, we see a great potential to replicate the entire business and service model in other addressable captive markets in Europe, particularly around the Baltics as well as in Eastern Mediterranean where there is a substantial pent-up demand, says the company's CEO, Pär-Olof Johannesson.

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Media contact:
Pär-Olof Johannesson
+46 70 742 50 18
[email protected]

SOURCE Solar Power Accelerator AB