MALMÖ, Sweden, June 12, 2023 (GLOBE NEWSWIRE) -- This week, Solar Power Accelerator’s pioneering greenfield pilot plant with microproduction of surplus electricity from rooftop based solar power at large scale is put into service. Surplus electricity from rooftop based solar power is connected to the grid and the plant is estimated to immediately commence to generate revenue streams.
The pilot facility is installed along the European route E6 at one of the most congested highway intersections in Scandinavia between Malmö and Helsingborg.
The solar cell installation of approx. 1,000 sqm of rooftop space with an installed power capacity of 0.2 MW has been mounted on a commercial industrial property in Lomma in South Sweden. Solar Power Accelerator has signed right of use agreements with its landlord and real estate developer Er-Ho Bygg AB for a lease period of 25 years. Furthermore, Solar Power Accelerator settles offtake and power-purchase agreements with the national and regional power utility grid.
A battery-pack for power balancing and frequency response control is planned to be integrated as well as a hypercharging infrastructure to ensure that electric vehicles can be fueled with excess electricity from rooftop-based solar power. The infrastructure system approach is consistent with the company's vision, mission and mandate as a microproducer and microgrid operator with a strategic roadmap to deploy and scale 1 TWh of rooftop based solar power in Sweden in the coming years. “We implement our ecosystem vision to improve energy efficiency by simultaneously addressing shortages both in the power grid and the transportation system and road network. This is achieved through the enabling of charging of electric vehicles with rooftop based solar electricity from our microgrids at an optimal pricing point,” says Pär-Olof Johannesson, the company's CEO.
The project was kicked off in February with the clear target that the first greenfield plant be turnkey commissioned by mid- June.
Solar Power Accelerator AB (https://www.solarpwr.se) is a micro-producer of on-site solar generation and micro-grid operator of surplus electricity from commercial utility scale rooftop solar power. The company finances complete investments of solar cell installations and addresses property owners with industrial plots with optimally designed rooftops that are suitable for installation and operation for at least 25 years. Surplus electricity is resold under a PV-SaaS model (i.e Photovoltaic Solar as a Service) on the spot market or through Power Purchase Agreements (PPAs). Alternatively, the electricity is fed back to the real estate owner ‘behind the meter’ or in a ‘peer-to-peer’ mode to neighboring properties off-the-grid in local ‘island mode’ without the electricity being connected to the transmission and distribution network.
Since the company's inception end in 2022, Solar Power Accelerator has further signed additional right-of-use agreements worth of 20,000 MWh in annual generation capacity in South Sweden (electricity area SE4) which, once installed in aggregate, are estimated to generate an annual revenue of 2 MEUR. In addition, the company has collected a pipeline with leads for almost 2 million sqm rooftop space, which, converted into energy consumption, would be enough to fuel 80,000 residential households or to charge 125,000 electric cars on a year-over-year basis.
Solar Power Accelerator as a startup is an impact-driven growth enterprise and ambitious greenfield infrastructure initiative as a response to both the EU's climate package and the UN's sustainability goal of reducing carbon dioxide emissions by 55% until 2030 in line with 1990 levels.
RSA (https://rsa-elodata.se), a leading regional EPC-contractor, has installed the first pilot plant. SolarEdge (https://www.solaredge.com/us), which is a world-leading supplier of systems for monitoring solar cells and battery storage, has supplied the premium DC to AC inverters. On charging infrastructure, the company collaborates with Milepost AB (https://www.milepost.se).
Sun radiation is the only truly renewable energy source indeed, which, together with battery storage, is expected to become the dominant paradigm in the next 20-25 years. Recent studies demonstrate that the price benchmark is almost identical between PV-solar power, offshore wind power and nuclear power. Rooftop solar power is unequivocally the most efficient means as to large scale roll out of renewable power with the least possible environmental degradation absent from macro-economic conflict of interests between food and climate.
The company's strategic objective is to supply at least 5% of the demanded and forecasted capacity in solar power in Sweden next five years. The company has a strategic objective to replicate the entire business model and target other addressable captive emerging markets in Europe.
Media contact:
Pär-Olof Johannesson
parolof.johannesson@solarpwr.se
+46707425018
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/386afcd7-6d1f-4aa1-a82b-c6c4df9b0062
