Ardian Infrastructure acquires LAKIAKANGAS Wind Farm in Finland, growing existing portfolio in the Nordics
The investment is the first build-up for eNordic, Ardian’s windfarm platform in the Nordics. Ardian’s first investment in Finland, supporting the transition towards sustainable energy.
Helsinki, 2 April 2020 – Ardian, a world-leading private investment house with $96bn assets under management, today announces the 100% acquisition of Lakiakangas 1 from, German based wind power company, CPC Finland Oy. The wind farm is Ardian’s first investment in Finland. It is an add-on to Ardian Infrastructure’s existing asset base in the Nordics and will be part of Ardian and eNordic’s partnership.
“With this investment, we aim to make a lasting contribution to the delivery of clean energy to our customers and we will continue to pursue strong cooperation with our local partners. Thanks to Fingrid’s long-sighted grid reinforcement programme, we will be able to add additional turbines, which would significantly increase the capacity of the power plant” says Eero Auranne, CEO of eNordic.
The Lakiakangas 1 wind farm currently has 14 turbines in operation and a production capacity of 57MW, with permits to build-up capacity to 90MW.
“Although this investment comes during a challenging period for the world, we remain committed to sustainable energy, which will continue to play an important role in the transition to a more climate friendly society. This investment, our first in Finland, is underpinned by agreements with strong counterparties to whom we will deliver all of the produced electricity under long term contracts. This combined with the opportunity to build additional capacity in the future is a great fit for our industrial asset management strategy” says Simo Santavirta, Head of Asset Management of Ardian Infrastructure.
CPC Finland built the Lakiakangas 1 wind farm in Isojoki in 2018-2019. Following the transaction, CPC will remain responsible for the technical and commercial asset management of the wind farm in cooperation with Ardian and eNordic. The parties will not disclose the value of the transaction.
“We are pleased to partner with Ardian and eNordic in this transaction. It was one of the most efficient transactions and it has been a real pleasure to work with the Ardian/eNordic’s highly competent team. We look forward to a long lasting partnership” says Erik Trast, Managing Director of CPC Finland Oy.
“This investment is a significant step in our strategy to build a leading independent sustainable energy group with presence across three Nordic countries” says Amir Sharifi, Managing Director at Ardian Infrastructure.
Ardian Infrastructure’s portfolio, which already includes three wind farm investments in Norway and Sweden, is now at nearly 500MW of gross capacity, corresponding to the yearly energy consumption of more than 750,000 electric vehicles. The portfolio is comprised of a balanced mix of greenfield and brownfield assets. The assets all operate under a mixture of pay as produced schemes. Ardian’s total renewable portfolio represents 3.5GW of capacity across Europe and Americas.
Lakiakangas Wind Farm transaction was completed through the Ardian Infrastructure Fund IV and Ardian Clean Energy II funds.
Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 680 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Through a local, responsible and agile investment approach, eNordic enables the transformation of the energy sector through long-term partnerships with those that develop or operate sustainable energy projects in the Nordics.
It invests in opportunities in wind, biomass, hydro and district heating, in addition to traditional energy assets that have the potential to be transformed or managed in a particularly sustainable way.
eNordic is based in Sweden and Finland, with local teams operating throughout the Nordics region.
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