Swedish wind power developer Nordisk Vindkraft and Mirova, a Natixis expert for responsible investment, announce that they have signed agreements for the sale, construction and operational management of the 27.6MW Våsberget wind farm in Gävleborg County, Sweden.
The Våsberget wind farm project is located 8 km southwest of Ramsjö, Ljusdal municipality, and comprises 8 Vestas V117 turbines with a rated capacity of 3.45MW. The project has been granted all requisite rights, permits and authorisations with full legal force. The wind farm will be connected to Ellevio’s substation in Laforsen and targeted energisation date is September 2016.
French asset manager Mirova is acquiring 80% of the wind farm while Nordisk Vindkraft retains a 20% ownership share. Nordisk Vindkraft will build and operate the wind farm. It will produce 80GWh of green electricity annually, enough for the consumption of 32,000 Swedish households and it will contribute to reaching the global and Swedish climate targets by reducing CO2 emissions by approximately 76,000 tons yearly.
Arne Lorenzen, CEO of Nordisk Vindkraft said: “We are very pleased that Mirova has chosen to invest in a wind farm developed by Nordisk Vindkraft. We share with Mirova a long term view of the renewable energy sector and we look forward to building and operating the project with such an experienced partner. This shows that high quality projects can attract investors to the Swedish renewables market.”
Raphael Lance, Head of Mirova Renewable Energy Funds said: “The constructive collaboration with Nordisk Vindkraft has been instrumental in making this partnership possible and we are delighted to team up for the first time with the RES Group to build the Våsberget wind farm. This project, which would be our third in Sweden, features excellent fundamentals enabling highly competitive electricity production. It will broaden Mirova-Eurofideme 3’s geographical footprint following the first 5 renewable energy investments done by our third fund cumulating c. 200MW, primarily in France, since it was launched 18 months ago.”
Newsec has acted as M&A advisor to Nordisk Vindkraft in the transaction.
RES (Renewable Energy Systems Ltd) is one of the world’s leading independent renewable energy companies. At the forefront of renewable energy development for over 30 years, RES has developed and/or built over 10GW of renewable energy capacity worldwide. RES' core activities are onshore wind, offshore wind and solar, and technologies that will be enablers to a low carbon future – Energy Storage, Demand Side Management and Transmission. RES is headquartered in the United Kingdom and operates across the globe.
Nordisk Vindkraft is developing, constructing, financing and operating high quality wind farms in Sweden, Norway and Finland and has so far built close to 400MW of capacity. Nordisk Vindkraft is part of Renewable Energy Systems (RES). RES has been active in the renewable energy industry for over 30 years. With a track record of more than 10 GW of installed wind power capacity globally, RES is one of the world's leading renewable energy companies with the expertise to develop, build and operate projects that contribute to a sustainable, low carbon future.
Mirova offers a global responsible investing approach involving Equities, Fixed Income, General and Renewable Energy Infrastructure, Impact Investing, and Voting and Engagement. It has €5.8 billion in assets under management and €42.9 billion in Voting and Engagement. Its team of circa 50 multidisciplinary experts includes specialists in thematic investment management, engineers, financial and environmental, social and governance analysts, project financing specialists and experts in solidarity finance.
Event signing photo: (L-R) Magnus Mattsson, Commercial Manager at Nordisk Vindkraft; Teddy Österman from Statkraft (PPA provider); Omid Ashrafi from Newsec (M&A advisor); Charles-Edouard Mariolle from Mirova (investor); and Romain Peteuil from HSH Nordbank