Primrock appoints Kerstin Levin as CFO

[Stockholm 11 August 2023] Primrock, a leading supplier of power capacity services in Sweden, has appointed Kerstin Levin as Chief Financial Officer (CFO). Mrs Levin will take responsibility for scaling up Primrock’s cost-efficient financing as well as Primrock’s financial and sustainability reporting.

Mrs Levin will be responsible for implementing and overseeing Primrock’s financing and investments under the EU taxonomy of sustainable activities (“the EU taxonomy”) and Primrock’s Green Financing Framework. Her experience from her work as CFO at Stockholm Exergi, a leading regional energy company in Sweden, will be of tremendous value to Primrock in this process. During her previous professional activities at Stockholm Exergi, Mrs Levin worked with leading investment banks to secure 12 bn SEK in external debt financing through a bond financing program, including the listing in 2015 of a 2.5 bn SEK green bond at Nasdaq OMX – the largest corporate green bond issuance at the time.

Moreover, Mrs Levin will take the lead in the process to take Primrock’s equity and debt financing to investment grade within 18 months. Her experience, most recently as CFO of Polhem Infra, a major investment vehicle for the leading Swedish pension funds AP1 (Första AP-fonden), AP3 (Tredje AP-fonden) and AP4 (Fjärde AP-fonden), will be of great value in this process.

To optimize its capital structure, Primrock strives to offer various forms of investment and financing opportunities with a range of attractive risk-reward profiles. Mrs Levins thorough understanding of investor-preferences as well as her decades-long experience in leading positions in the energy industry in general, and electricity markets specifically (at Fortum and Birka Kraft), will provide a solid foundation for Primrock’s continued development of its offering to investors and creditors.

Mrs Levin will start her position as Chief Financial Officer of Primrock in October 2023.