– The larger property owners have previously not been really ready to take the step to energy storage, but we notice that it is starting to move in that market as well. Together with Save by Solar, we have therefore started a number of designs for larger properties with both solar panels, energy storage and some other exciting functionality, says Håkan Svärd, CEO of Enequi.
– Through the collaboration with Enequi, our solar cell systems will be able to be expanded with intelligent energy storage and create better conditions for companies to use more of their self-produced renewable electricity. We see potential for many interesting projects together with Enequi, says Linus Baihofer Werner, CEO and founder of Save by Solar.
Enequi and Save by Solar are part of the portfolio containing innovative companies with sustainable solutions at the infrastructure investor Polar Structure.
– We see great advantages in investing in both Enequi and Save by Solar, which we can realize through a collaboration. Both companies are just in time with their investments in sustainable energy and we see potential to drive the energy transition forward further by taking advantage of synergy effects between the companies, says Tobias Emanuelsson, CEO of Polar Structure.Polar Structure has today invested in the solar cell company Save-by-Solar and in connection with this started a jointly owned company with the aim of building large-scale PPA parks (Power Purchase Agreement) on both land and roof. PPA is an electricity agreement entered into between an electricity producer and an electricity consumer, often over long time horizons and with predetermined price and capacity levels, which creates economic stability for both parties. “I see the investment in Save-by-Solar as another step in building a platform of companies that together contribute to a more sustainable future. Together with battery storage (Enequi) and sensors (Netmore), solar cells create opportunities to, in addition to green electricity, also relieve our strained electricity network. In Sweden, like the rest of the world, the demand for green energy is constantly increasing in combination with measurability and the ability to balance electricity networks. Through the investment, we will begin the construction of Polar Energy, ”says Tobias Emanuelsson, CEO of Polar Structure Save-by-Solar is a Swedish solar cell company with a focus on commercial property owners who in a short time have established themselves with customers such as Klövern, Hemsö, Wihlborgs and ICA Fastigheter and more. The company has also laid the foundation for a scalable software business with its own developed monitoring software “PowerAdmin”. The investment is an important part of Polar Structures’ ambition to build a platform of companies that together create new sustainable overall solutions. “We have basically the same conditions as Germany, in terms of the possibility of creating electricity from solar, where today there is over 10% solar of total electricity production. In Sweden, it is in comparison only about 0.6%. We see the potential for large-scale solar cell solutions as a completely obvious part of the energy mix of the future. I look forward with great confidence to working with Save-by-Solar, where their ability to create relationships with established companies was a decisive factor for us, ”says Tobias Emanuelsson. Polar Structure leads Save-by-Solar’s new share issue and invests SEK 22 million in the company. To accelerate Save-by-Solar’s growth, the companies have also taken out a convertible loan of SEK 30 million that can be converted into shares in Save-by-Solar within 2 years. Polar Structure also provides the jointly owned JV company with a credit facility of SEK 150 million to enable a rapid construction of a network of PPA systems. “We see how more and more people are opening their eyes to PPA in the market. In addition to concretely contributing to the expansion of renewable energy, the recent volatility in electricity prices has also made it a rational business decision. With electricity on PPA, you can budget in a completely different way and we stand with Polar Structure as a strategic investor ready to meet market demand. We are very much looking forward to our future collaboration, ”says Linus Baihofer Werner, CEO of Save by Solar.Polar Structure employs Maria Björholt as Chief Sustainability Officer Polar Structure welcomes Maria Björholt, former CFO at Norrsken, as Chief Sustainability Officer in the company. Maria has extensive experience in, among other things, sustainable investments both from Norrsken and before that as CFO at Reach For Change, Kinnevik Group. Maria will lead Polar Structures’ ESG and sustainability work, which is a high priority area within the company. Maria will start in February 2021 and will be part of the management team.Polar Structures train service hall in Hallsberg, Sweden with Train Alliance as tenant, will be the collaboration project’s first commercial property to be equipped with a frequency support system. The nearly 1,400 sqm PV-system will have a solar production corresponding to the annual needs of 29 residential properties. – Through our involvement in both Enequi and Train Alliance, we saw a “perfect match”, where we could combine the properties’ large areas for solar production with the latest technology for energy storage and thus releasing enough green energy to help balancing the electricity grid, says Tobias Emanuelsson, CEO of Polar Structure. The collaboration project between Enequi, Train Alliance and Polar Structure is intended to be the first in a series of energy efficiency projects for property owners. By combining locally produced solar energy, energy storage and Frequency Containment Reserve (FCR), value is created in several stages. – Energy storage creates a significantly higher utilization rate for the self-produced solar energy. By storing the surplus from solar energy production during the day and then using it at night, the need to buy electricity from the grid is reduced. For commercial properties, it is also very valuable to have an energy reserve to be enable peak shaving and thus also cut costs when the demand for electricity is high, says Vladimir Vujic, CEO of Enequi. But it is not only the property owner and the tenant who will be able to benefit from this project. The Swedish electricity grid will also be stabilized. The project will make 0.12 megawatts available as frequency support for the electricity grid, via the installed energy storage. This is something that is needed in the transition to more renewable energy as the production is more difficult to plan and regulate. With stored energy companies or commercial properties do not need to change their actual consumption. They can still contribute to important frequency control by selling their stored flexibility. Solar power is stored in the energy storage and can then be used by the electricity network companies when needed, instead of them having to buy other fossil-produced electricity or risk potentially devastating frequency deviations. – This project is good for many parties. Partly for us as property owners, partly for the environment. The investment is an important part of our ESG development, Emanuelsson concludes.