Re:cap global investors has advised FP Lux Group on adding up to 90 MWp of Swedish solar parks to the portfolio of its third renewable energy fund RE Infrastructure Opportunities.

The purchase agreement was concluded by re:cap global investors which is responsible for evaluating and purchasing projects for the fund.

The seller is SunSpark Nordic AB, a Swedish developer of PV solar parks. Under the agreement, the fund will acquire the ready-to-build solar parks and provide equity financing for construction, while SunSpark Nordic will provide long-term asset management services.

The solar parks will be built over a period of up to two years, mainly in southern Sweden, as the energy demand in this region is high and new solar parks in some municipalities can contribute to more security in the local electricity supply.

The search for suitable locations for the project has been largely completed; the first parks will be built in the municipalities of Olofström, Karlshamn, Ronneby and Töreboda.

Thomas Seibel, chief executive of re:cap, said: "Sweden is one of the most important European markets for renewable energies with a transparent regulatory system and a strongly growing demand for locally produced solar power. We are therefore pleased to expand our commitment in the region and to have gained a professional partner in SunSpark Nordic."

Pontus Ringaby, chief executive of SunSpark Nordic AB, added: "We see an increasing demand for sustainable energy solutions from Swedish companies, especially the possibility of concluding electricity contracts based on solar energy is being investigated. At SunSpark, we build small-scale solar parks in many places. We have chosen that route because it is optimal for the Swedish infrastructure - we can supply solar energy in an efficient way which means that we complement local existing grids.”