10 August 2021 - Swedish solar PV company Helios Nordic Energy AB (Helios) has
added another 10 projects in the southern part of Sweden - equivalent to
potentially 500 MW - to its portfolio, which now totals 1 GW.

In February 2021, Magnora ASA invested in the company to speed up development of
projects and owns 25% of the shares in Helios. As of today, Helios has reached a
development portfolio equivalent to 1 GW, which is 6 months earlier than
projected when Magnora made its investment.

"Our progress demonstrates that Helios has an effective business development
team and methodology and is an attractive partner to landowners. The company's
next target is to increase the development portfolio to 2 GW by the end of 2022
in well suited locations," says CEO of Helios Andreas Tunbjer.

Helios is now also preparing to invite appropriate investors for parts of its
portfolio in the southern part of Sweden where several projects will soon reach
ready-to-build status.

"The Nordic utility scale solar PV is attracting a growing interest from buyers
throughout Europe, supported by technology development and further cost
reductions in the solar value chain. Helios has positioned itself very well in
this context to become one of the leading players in the region," says Magnora
EVP Operations Peter Nygren.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com
* Torstein Sanness, Working chairman, email: sanness at sf-nett.no

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a profitable renewable energy development company
looking for green investment opportunities. Magnora's portfolio of renewable
companies consists of Evolar AB, Helios Nordic Energy AB, Kustvind AB, Magnora
Offshore Wind AS, Vindr Group AS, and a South African SPV. The company is listed
on the main list on Oslo Stock Exchange under the ticker MGN.