4C is now TGS

We are excited to announce a significant milestone in 4C Offshore's journey. Our integration into the TGS family marks the beginning of a new era in offshore wind market intelligence.

Learn what this means for you!

Magnora raises NOK 120 million

By: Tom Russell 04/02/2021 Magnora

Corporate General

Norwegian renewable energy development company Magnora has raised NOK 120 million in capital and appointed former Arise Windpower CEO Peter Nygren as EVP of operations.

The NOK 120 million was raised through a private placement which the company stated was multiple times oversubscribed. The funds will be utilised both to fund investments into new renewable projects and companies, and to fund Magnora’s committed investments.

“Magnora has made numerous exciting renewable investments in the past 18 months. The funds from this private placement will be utilised to create even greater value for Magnora’s shareholders through our current company and project portfolio, but also to capitalise on additional investment opportunities. We have access to a solid deal flow as Magnora is considered to be an attractive and financially solid business partner in renewable energy segments,” said Erik Sneve, CEO of Magnora.

Peter Nygren was previously CEO and co-founder of NASDAQ Stockholm-listed Arise Windpower AB.

“Peter’s industrial background and operational experience from Arise over a decade is unique in the relatively young wind power industry. We are delighted to bring him onboard,” said Sneve.

Just last month, Magnora announced that it had entered into an agreement with an undisclosed global offshore energy technology and service company to establish a joint floating wind company, Magnora Floating Wind.

Magnora Floating Wind has already commenced its operations and started work on an application for the ScotWind round in Scotland, UK. In addition, the company will participate in the first offshore wind application round in Norway, which will open in 2021. Magnora Floating Wind will also consider entering new markets in the coming months.

For more information on offshore wind farms worldwide, click here.

Premium

4C Offshore Premium, our most popular subscription, gives you full access to use the 4C Offshore WebApp which includes exclusive offshore wind, transmission and vessel reports, news and downloads.

Request a 30 minute Demo

Magnora raises NOK 120 million

Back to News

Trending News!