Vinci Concessions Expands Presence in Northern Europe with Acquisition of Helios Nordic Energy

French construction group Vinci Concessions, through its subsidiary SunMind, has announced the acquisition of Swedish developer Helios Nordic Energy, further solidifying its position in the renewable energy sector.

Helios Nordic Energy, based in Stockholm, specializes in the development of large-scale solar farms and energy storage solutions, operating primarily in Northern Europe, including Sweden, Finland, Norway, and the Baltic countries. The company oversees projects from inception to readiness for construction (RTB).

Vinci revealed that the acquisition involves the purchase of 100% of Helios’ capital for a sum of 73 million euros, with additional revenue sharing over the next five years. Previously, Helios was 40% owned by Magnora ASA, a Norwegian investment fund, along with the management team and minority investors.

Andreas Tunbjer, CEO of Helios, expressed enthusiasm for the transaction, citing Vinci’s support as a means to enhance capabilities and accelerate activities. The deal is expected to be finalized in June.

In Sweden, Vinci Concessions is already developing a 100 MWp photovoltaic project at Skavsta Airport in the capital, formerly under Vinci Airports’ management. The acquisition of Helios further strengthens Vinci’s foothold in Sweden and Scandinavia, regions deemed to have significant solar energy potential.

SunMind highlighted that the solar irradiation difference between the least favorable site in France and the most favorable site in Sweden is minimal, with the potential for high yields of around 1000 kWh/kWp. Moreover, the Swedish market is witnessing growth, particularly in small-scale residential solar and Commercial and Industrial (C&I) sectors, driven by Corporate Power Purchase Agreements (CPPA). SunMind projects that Solar Corporate PPAs could exceed 5 GWp by 2025.