Svea Solar shares
Unlisted company
Svea Solar was founded in 2014 by Erik Martinson and Björn Lind with the aim of making solar energy accessible to households and businesses in Europe. The company operates under the Svea Solar brand through the legal parent company SVEA Renewable Solar AB, with subsidiaries in several European countries. Throughout its history, Svea Solar has been financed by investors such as Altor, Ax:son Johnson and EQT Ventures.
Revenue
Revenue is generated through both leasing and the direct sale and installation of solar energy systems, including roof-integrated solar panels and ground-mounted installations for solar parks, the development and operation of solar parks, as well as additional recurring revenue from smart energy services and grid balancing. The company collaborates with established retail chains as a distribution channel in several of its markets.
Growth strategy
The growth strategy is based on a transition from a pure-play installation company to an energy services provider. The company has broadened its offering to include heat pumps and smart energy services, and pursues growth both organically and through acquisitions to strengthen its market position. To secure cash flow, priority has been given to an increased focus on direct sales, in addition to further venture capital financing, with several funding rounds having been completed.
The offering
Comprehensive offering that includes solar panels, battery storage, heat pumps, charging and energy optimisation, among other things
Three customer segments comprising households, businesses and solar parks
The revenue model
Combined revenue model with direct sales, leasing and recurring energy services
Partnerships with established retail chains as a supplementary distribution channel
Financial performance
Published 24 September 2026Published figures from the company’s own reports. Amounts in MSEK · change from the previous year
- Cash and bank 2022-12-31
- 193MSEK
- Burn rate
- 58MSEK/mo
- Runway
- 3mo
- Equity ratio
- 51.6%
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| Net sales | 1,363(-44.8 %) | 2,468(+34.5 %) | 1,835(+82.4 %) | 1,006(+58 %) |
| Revenue growth | -44.8%(-79.3 pp) | 34.5%(-47.8 pp) | 82.4%(+24.4 pp) | 58%(+22 pp) |
| EBITDA | -654 | -289 | -423 | -179 |
| EBIT | -723 | -336 | -449 | -197 |
| Net income | -804 | -357 | -447 | -203 |
| Equity | 362(-32.7 %) | 538(-18.8 %) | 662 | -19(-187.2 %) |
| Cash and bank | 317(-14 %) | 368(+90.7 %) | 193(+1,101.1 %) | 16(+36.9 %) |
| Operating cash flow | – | – | -691 | -237 |
| Equity ratio | – | – | 51.6%(+55.4 pp) | -3.8% |
Documents and reports
4New share issues
Latest 1An overview of the company’s capital raising.
| Date | Capital raised | Valuation |
|---|---|---|
| SEK 50m | SEK 4bn |
Questions about Svea Solar
Is Svea Renewable Solar listed on a stock exchange?
No, Svea Renewable Solar is a private limited company and is not listed on a stock exchange. The company has not carried out an IPO, so the share is not traded on a regulated exchange but on the unlisted market.
What does Svea Renewable Solar do?
Svea Solar is a Swedish solar energy company offering comprehensive solutions for solar panels, energy storage and charging infrastructure to households, businesses and solar farms. Its operations include the sale, installation and servicing of solar energy systems, as well as energy optimisation and ancillary services for the electricity grid.
Can I buy shares in Svea Renewable Solar?
Yes, it is possible to buy shares in Svea Renewable Solar through trading in unlisted shares, provided there are sellers. Via Eqvor you can place a buy order and be matched with sellers on the unlisted market.
How do I sell shares in Svea Renewable Solar?
If you own shares in Svea Renewable Solar, you can place a sell order via Eqvor and be matched with buyers. When a buyer and a seller are matched, the transaction is completed and the change of ownership is recorded in the company's share register according to the company's applicable routines.
Is Svea Renewable Solar connected to Euroclear?
No, Svea Renewable Solar is currently not connected to Euroclear. This means the shares are recorded directly in the company's share register and not through the Swedish securities system.
Can I hold Svea Renewable Solar shares at Avanza or Nordnet?
Since Svea Renewable Solar is not connected to Euroclear, the shares can normally not be held in an ordinary custody account at Avanza or Nordnet. Ownership is instead recorded directly in the company's share register.
Does Svea Renewable Solar have pre-emption or right-of-first-refusal clauses?
Yes, Svea Renewable Solar has right-of-first-refusal or pre-emption clauses. This means share transfers may have to be handled under specific terms before shares are sold on to an external buyer.
At what price is the Svea Renewable Solar share traded?
Since Svea Renewable Solar is not listed on a stock exchange, there is no official price on a regulated marketplace. The price is instead set by supply and demand between buyers and sellers on the unlisted market.
When will Svea Renewable Solar be listed on a stock exchange?
There is currently no publicly communicated timetable for a stock exchange listing of Svea Renewable Solar. We therefore do not know today when Svea Renewable Solar may be listed, or whether the company will carry out an IPO.
What are the risks of investing in Svea Renewable Solar?
Investing in Svea Renewable Solar involves risk, as do other investments in unlisted shares. The company's value development can be affected by demand for solar panels, electricity prices, interest rates, competition, installation volumes, capital needs, margins, regulatory support schemes and developments in energy storage and charging infrastructure. Trading in unlisted shares also normally involves lower liquidity than trading in exchange-traded shares.
Where can I find Svea Renewable Solar's annual report?
Svea Renewable Solar's annual report is available under Investor relations and Financial reports. There you will find the company's annual reports and other documents available for download.
Has Svea Renewable Solar carried out share issues?
Yes, Svea Renewable Solar has carried out capital raises and earlier share issues. Svea Renewable Solar's Capital raised is stated at SEK 2 billion, showing how much capital the company has raised through earlier financing.
How much capital has Svea Renewable Solar raised in total?
Svea Renewable Solar's Capital raised is stated at SEK 2 billion. An equity raise is the English term for raising capital; other common terms are funding round, financing or share issue.
Has Svea Renewable Solar reported a profit or a loss?
Svea Renewable Solar reports a negative result in the latest available information. Under Key figures, EBITDA is stated at TSEK −653,740 and net result at TSEK −804,410. The company's earnings trend is also shown in the Result per year chart.