HULTSFRED – On the edge of a disused runway in Småland, rows of 174,000 solar panels now glint where propellers once roared. The site, once an airport, has been reborn as Sweden’s largest solar farm — a 100-megawatt project that will supply most of its electricity to the H&M Group.
The Hultsfred Solar Farm, developed by Stockholm-based Alight and France’s Neoen, covers 130 hectares, about the size of 185 football fields. It is expected to generate 100 gigawatt-hours of electricity each year, enough to power more than 18,000 Swedish homes.
Fashion Giant Taps Solar Power
The project is tied to a long-term power purchase agreement signed in 2022, under which H&M will take 95 percent of the output. For the Swedish retailer, the deal is a step toward its pledge to use only renewable electricity by 2030.
“As a global fashion player, we have both the power and the responsibility to drive the energy transition,” said Marcus Hartmann, H&M’s Head of Sustainability for Northern Europe. “This is not just an investment in our business – it is an investment in the future.”
Building Without Subsidies
Unlike many of Sweden’s earlier renewable projects, Hultsfred was financed and built without state subsidies. Developers argue that shows solar can now compete on its own in northern markets once thought too cold or dark to support large-scale plants.
“This solar farm proves the Swedish market can deliver large-scale, unsubsidised renewable energy fast,” said Warren Campbell, Alight’s chief executive.
Neoen’s Laetitia Prot noted that the company has now brought online solar, wind, and battery projects in Sweden, creating what she described as a “complementary portfolio” for a cleaner energy system.
Danske Bank structured the project’s debt financing. Construction was carried out by Equans Energy and Solkompaniet, with grid connection provided by E.ON.
A Broader Message for Europe
The Hultsfred site is more than a technical achievement. For policymakers, it shows how corporate-backed projects can speed up renewable deployment even in advanced economies that have already cut emissions.
As Europe faces the dual challenge of slashing carbon while staying competitive, the project offers a model: corporate buyers, private capital and national climate goals aligned in a single deal.
Sweden still relies heavily on hydro and nuclear power, but the solar farm adds a new dimension to its energy mix — and gives H&M a tangible milestone in its drive to match global fashion with net-zero commitments.
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