In 2018, Norsk Solar invested in Sustain Power, a South African company that develops containerized, high-quality and robust solutions for sustainable power generation off-grid and on-grid.
Norsk Solar is part of the Valinor group (formerly called Norsk Vind), established in 1996. Valinor represents Norway's largest independent, privately-held renewable energy developer. The Group has several technology and energy companies in the portfolio, together with maintaining a disciplined focus on creating a sustainable future. The Group projects currently in operation provide clean energy to thousands of households in Scandinavia every year; contributing to increasing Norway's positive global climate impact. Featured partners and clients include Google, Facebook, Blackrock, and Luxcara.
Semypolky is a solar PV project located in the Kyiv region in Ukraine and will provide clean energy to more than 5000 households every year from January 2020. The project is financed by Norsk Solar and its partners, with the Nordic Environment Finance Corporation (NEFCO) as a debt provider. The energy produced is delivered under Ukraine's "green tariff" program, which is an important step inthe country's goals of increasing the renewable energy portion from 4 % in 2019 to 25 % by 2035. This project paves the way for further investments into Ukraine, as well as a consolidation of Norsk Solar's EPC Management organization.
Gharo Solar is a solar PV project located in Gharo, close to Karachi, Pakistan, and will provide renewable energy to more than 206 000 households every year from December 2019. The project is financed by Norsk Solar and local partners, with the Dutch Entrepreneurial Development Bank (FMO) alongside Punjab Bank and Bank Alfalah as debt providers. The energy produced is delivered under an Energy Purchase Agreement with K-Electric Limited and the Award of Tariff by the Pakistan National Electric Power Regulatory Authority (NEPRA).
Norsk Solar has initiated a large-scale undertaking together with Norwegian and Maldives governments to providing clean energy to the Maldives as part of the country's goals of renewable energy and fighting climate change. The Maldives, a near-80-islands nation, is highly dependent on imported oil with diesel generators being the main source of electricity. Norsk Solar is developing a 100 kWh pilot project with local authorities, with a plan of large-scale further expansion on both land and sea. The project is developed with local partners, Renewable Energy Maldives, and is financed by Norsk Solar.
Norsk Solar is currently undertaking both utility-scale and corporate off-taker solar PV projects in Vietnam. The first phase projects corresponds to 50 MW in a total portfolio of closer to 200 MW. This equals more than 208 000 households being powered by renewable energy.
Norsk Solar is currently developing a greenfield solar PV project in Nicaragua, which is expected to provide renewable energy to more than 121 000 households every year from 2020. The energy produced is delivered under Nicaragua's fixed feed-in tariff program, with project capacity approved by the Energy Commission. This project will be an important step in supporting Nicaragua with clean energy and local employment. The project is supported by the Norwegian Agency for Development Cooperation (NORAD).