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Ardian has announced that it is investing EUR300 million (US$341.3 million) in a wind project in Sweden as part of the launch of a new investment platform for sustainable energy in the Nordic region.
The project involves the construction of a 53-turbine wind farm, expected to produce in excess of 800GWh per year. Ardian has acquired the development rights from OX2, a leading Nordic renewable energy developer.
Ardian has also engaged OX2 to lead the construction and technical management of the facility.
Scheduled to be operational in 2021, the wind farm will be one of the largest in Sweden. The wind turbines are from the Nordex Delta4000 series, with a total height of 180m. The total installed capacity is projected to exceed 250 MW including upgrades (from an initial 220 MW nominal capacity).
Ardian’s portfolio in the Nordics, which already includes two wind farm investments in Norway and Sweden, now exceeds 400 MW gross capacity, corresponding to the yearly energy consumption of more than 600,000 electric vehicles.
The company has built or operated 2.3 GW of renewable capacity in Europe and the Americas since 2006, including investments in wind, solar, hydro and biomass. Most recently, Ardian’s renewables platform in the US, Skyline Renewables, acquired four additional wind farms expanding its holdings to 803 MW.
OX2 is currently building a record of over 1 GW of wind power in the Nordics, of which approximately 90% is in Sweden.