The power of the sun 

Svea Solar has proven the power of the sun and is ready for the next step on its journey.

It has been a fast ride from the company’s birth in 2013 to becoming the leading solar solutions company in Sweden, and the third largest solar company in Europe. Today Svea Solar serves more than 20 000 customers primarily in the residential segment. Starting out in Sweden, Svea Solar went international when they entered Spain in 2019, and further expanded into Germany and Benelux in 2020.  

We will never run out of sunshine , and Svea Solar is uniquely positioned to become the leading pan-European company offering solar-as-a-service to residential properties. Seeing the ongoing shift to more decentralized power production, Altor came onboard as lead external investor in 2022, noting the company’s opportunity for value creation from installation efficiency, leasing offering,  and the possibility to grow both organically and through additional add-ons.

Erik Martinson, CEO and co-founder, Svea Solar

“It is more important than ever to quickly scale up Europe’s access to clean energy, not only for the sake of the climate, but also to ensure that Europe becomes self-sufficient on energy.”

This enormous contribution from an experienced and engaged investor like Altor will enable us to further contribute to a more sustainable, resilient, and independent energy system, in all of Europe. For us it was vital that Altor shared our vision of a future without fossil fuels, where we help people to become self-sufficient on clean energy as quickly as possible. We really look forward to start working closely with a world class investor like Altor,” says Svea Solar’s CEO and co-founder Erik Martinson. 

Erik Martinson, CEO and co-founder at Svea Solar & Herman Korsgaard, Director at Altor

“The investment builds on Altor’s investment track-record in green transition businesses and is a testament to our strong conviction in solar as a critical component for European energy supply and balance. Svea Solar has quickly become the leading residential solar company in Sweden, with established positions in Spain, Germany, Belgium, and the Netherlands. Svea Solar’s innovative team has built a remarkable brand position and we are certain they will continue to play a key role in driving the green energy transition in Europe in the years to come. We look forward to partnering with the Svea Solar team and shareholders to deliver on that ambition.” says Herman Korsgaard, Director at Altor. 

Published: Aug 18 2022


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