Alight has entered into a power purchase agreement (PPA) for the output of a 100-megawatt solar farm in Finland, marking the largest deal of its kind in the country.
The agreement, signed with Autoliv, an automotive company, covers the electricity produced by the solar park located in Eurajoki. Under the terms of the deal, Alight will finance, construct, own, and operate the solar facility, while Autoliv will contract a significant portion of the clean energy generated by the farm.
This collaboration aims to increase renewable energy capacity in Finland's grid while supporting Autoliv's sustainability objectives. To finance the project, Alight recently secured €46 million in senior debt from SEB and ABN AMRO.
Warren Campbell, CEO of Alight, commented: “Solar power has great potential to transform the Finnish energy landscape by complementing its wind production, and we're proud that together with Autoliv, we are announcing the largest solar PPA in Finland. By combining its sustainability leadership with our expertise in solar development, we are jointly making significant strides toward a low-carbon future.”
Kaisa Tarna-Mani, Vice President of Sustainability at Autoliv, said: “At Autoliv, we are committed to operating our business in an environmentally sustainable manner while delivering world-class products to our customers. With a focus on renewable electricity, we see Virtual Power Purchase Agreements as a strategic cornerstone of our low-carbon operations.”
The deal reflects the growing demand for renewable energy solutions in Finland, where wind power has historically played a central role in the country's energy mix. The solar farm is expected to play an important role in furthering Finland's energy transition and helping companies meet their sustainability targets.
