Swedish wind power developer Nordisk Vindkraft and Mirova, the investment and asset management arm of French bank Natixis, 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.