EEW Eco Energy World PLC Announces Proposed NASDAQ Listing $650 Million Equity Value – EQ Mag Pro
Independent Global Developer of Solar Power Projects to list via SPAC Combination
Svante Kumlin, Chief Executive and Founder of EEW, said: “Our mission is to support the world’s journey to a net-zero future by driving the development of solar power. Solar power is now the cheapest form of electricity generation and is forecast for a period of unprecedented growth driven by the global energy transition. Having successfully developed approximately 1.5 GW of solar power capacity and sold 21 utility-scale solar projects, we believe EEW is a strong player in this field.
“EEW expects to sell approximately a further 2.0 GW over the next three years; this transaction will allow us to expand our project development pipeline and enter new growth markets to enable EEW to benefit from the opportunity represented by forecast growth rates for solar power capacity expected to be up to 42% of the total energy market by 2050. For EEW and solar power, we believe the future really is very bright.”
United Kingdom, October 7, 2022 – E.E.W. Eco Energy World PLC (“EEW” or “Company”), an independent global developer of utility scale solar photovoltaic (PV) projects, announces that it plans to list on Nasdaq via a business combination agreement with ClimateRock (the “Business Combination”). Upon the closing of the Business Combination, a newly formed holding company will own ClimateRock and EEW (“Pubco”). EEW will continue to be led by Svante Kumlin, the founder and chief executive officer, who has more than 14 years’ experience in the industry.
EEW develops utility-scale solar power projects around the world for the generation of clean and renewable energy, having developed approximately 1.5 GW across mainland Europe, the UK and Australia to date. EEW’s experienced and diverse team combines technical skills with a rigorous commercial mind-set, borne of more than a decade in the industry. This blend of skills and experience enables EEW to drive value in the early stages of solar power development, and ultimately for EEW’s customers.
EEW is focused on the non-subsidised solar PV energy market and develops projects until they are at or near Ready to Build (“RTB”) status, at which point it seeks buyers for the project through its established network which includes financial investors, infrastructure funds, private equity firms, large utility players and oil and gas companies.
There is an unprecedented growth in demand for solar projects forecast, with strong market drivers underpinned by the global energy transition. Solar power is now the cheapest utility-scale energy source in the world and solar PV installations are expected to increase 6-fold by 2030, from 2018 levels.
About Eco Energy World
EEW is an independent global developer of utility scale solar photovoltaic projects from greenfield to ready-to-build stage, with a recognized track record, with founders and management who have been operating in the industry since 2008. EEW has developed projects with a capacity of approximately 1.5 GW, which it has deployed for major institutional investors across Europe, the UK and Australia. EEW has significant experience in delivering successful turnkey developments globally including green field development, technical design, construction, permitting, power purchase agreements and structured financing.
EEW has a strong pipeline of new opportunities to take advantage of the next wave of global subsidy-free renewable energy development including solar and hydrogen. Headquartered in London, EEW has assets under development in the UK, Spain, Sweden, Australia and Italy.
Source: eew
