Ardian’s Nordic platform led by industry executives Eero Auranne and Thomas Linnard will support transition towards sustainable energy in the region
The 53-turbine wind farm will be one of the largest in Sweden, which is a world leader in the innovation and development of sustainable energy. Sweden has passed legislation to go ‘carbon neutral’ by 2045, with Denmark, Norway and Finland all having made similar commitments.
Ardian’s portfolio in the Nordics, which already includes two wind farm investments in Norway and Sweden, will now exceed 400MW of gross capacity, corresponding to the yearly energy consumption of more than 600,000 electric vehicles. Separately, OX2 is currently building a record of over 1GW of wind power in the Nordics, of which approximately 90% is in Sweden.
Amir Sharifi, Managing Director at Ardian Infrastructure said: “In OX2, we have found an excellent partner. We look forward to together building a state-of-the-art wind farm using the latest available technology. Our goal is to achieve solid returns without subsidy and a positive impact on all stakeholders.”
Paul Stormoen, Managing Director at OX2 Wind said: “We are very pleased to have established a good business relationship with Ardian after a realisation process that was characterised by a high degree of professionalism and spirit of cooperation. We are now looking forward to beginning construction together with our sub-contractors. The wind farm is a significant local investment and a further important contribution to the ongoing global transition to a renewable energy sector.”
Mathias Burghardt, Member of the Executive Committee and Head of Ardian Infrastructure said: “As a leading investor in the sector, we see significant growth potential in supporting the rapid transition towards sustainable energy in the Nordics. This region has been a pioneer in energy innovation and building a liberalized power market. We look forward to building a leading independent Nordic platform that will become yet another example of how sustainability can provide value to both investors and society.”
Eero Auranne said: “Our partnership with Ardian, one of the largest private investment houses in the world, will provide both the resources and expertise to deliver on our plan to build a leading Nordic platform. We have already identified several interesting opportunities and look forward to taking advantage of them with Ardian’s support.”
Ardian has built or operated 2.3GW 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 803MW.
ADVISORS AND TECHNICAL DETAILS
Ardian advisors: Newsec, M&A; Vinge, legal; Grant Thornton, tax
The wind turbines are from the Nordex Delta4000 series, with a total height of 180 m. Project targets to exceed 250MW including upgrades (from an initial 220MW nominal capacity)
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