Impax Asset Management, the London-based specialist investor, has announced that its private equity infrastructure fund has completed the sale of its 107.7MW wind farm portfolio in Finland, to Allianz Capital Partners, the Allianz investment manager for alternative investments.
The sale is in accordance with the fund’s strategy of realising assets once they are operational. Impax has grown the Portfolio by acquisition since 2013, and subsequently constructed the entire Portfolio which includes three projects in Finland, two in Lapland and the third in the North Ostrobothnia region. It has a total installed capacity of 107.7MW, comprising 35 wind turbines with a combination of Vestas and Nordex technologies.
The terms of the deal are not disclosed. Impax’s legal adviser to the transaction was White & Case in Helsinki and Impax’s financial adviser was Augusta & Co in London.
Ben Stafford, Associate Director at Impax, commented:
“We are pleased to complete this sale to Allianz Capital Partners. The sale represents a material part of our current disposal programme and follows the successful sale of our French and German portfolio earlier this year. We have enjoyed strong support in Finland and appreciate the hard work of the all parties involved in completing this process.”