Ardian buys Ändberg wind farm from OX2 for 300 million euros
In early July 2020, French investor Ardian Infrastructure signed a 20-year financing agreement with German bank KfW IPEX-Bank GmbH.
This will enable Ardian to invest in its 286 MW Ändberg wind farm project in Sweden.
The project is scheduled for completion in 2021.
Once completed, Ändberg will supply over 800 GWh of clean electricity per year, and will be one of Sweden’s largest wind farms.
To reach the 5 MW class, Ändberg upgraded its Nordex turbines earlier this year.
Ändberg is one of four current wind power investments for Ardian’s new sustainable investment platform: eNordic.
The Ändberg wind farm is one of four Ardian assets acquired by eNordic.
The first of these is in Finland, at the Lakiakangas 1 wind farm, which the French company acquired from the German company CPC Finland Oy.
Simo Santavirta, Head of Asset Management at Ardian Infrastructure, says: “This project reflects our asset management capabilities as well as our ability to improve the performance of our investments, notably through financing, hedging, external growth operations and technical optimization.” (allnews)
The Ändberg takeover project
Financing details
In a press release, Ardian said it had secured the financing on attractive terms.
This financing is underpinned by a ten-year power purchase agreement with the Swedish municipal utility Skelleftea Kraft for a third of Ändberg’s production.
This financing also enables Ardian and eNordic to secure additional sources of income for the wind farm.
Markus Scheer, Member of the Board of Directors of KfW IPEX-Bank: “KfW IPEX-Bank is firmly committed to financing innovative energy and environmental projects, and we are delighted to support Ardian and eNordic’s Åndberg wind farm, as they continue to work towards the transition to sustainable energy in the Nordic countries. It’s a real pleasure to work with their highly skilled teams, and we look forward to this long-term partnership.” (allnews)
An agreement with OX2
Ardian acquired the Ändberg project from Swedish renewable energy developer OX2 in February 2019.
This investment kick-started Ardian’s sustainable energy platform, eNordic, which now manages four wind farm projects.
According to http://energynews.pro/wp-content/uploads/2022/07/RENTEL-POWERPLUG-KLOET-061dd11042019-7.jpeg Linnard, Managing Director of eNordic: “This agreement is the latest step in our strategy to build a leading independent sustainable energy group in the Nordic region. Despite the current economic climate and the complexity of the project, the long-term financing has been secured on very attractive terms, underlining the strength of our strategy and approach.” (allnews)
Amir Sharifi, Managing Director within the Ardian Infrastructure team, added: “This transaction underlines our ongoing commitment to sustainable development and our constant search for investment opportunities to support the transition to sustainable energy in the Nordic region.” (allnews)
Sweden’s wind energy potential
In Sweden, wind power is an important source of energy, and its potential is one of the best in the world.
In 2019, wind power will account for 15% of Sweden’s electricity production and 11.2% of the country’s consumption.
According to a study conducted by DTU Wind Energy (Technical University of Denmark), Sweden’s coastline makes it one of the most favorable areas for wind power development.
Main wind farms
The country boasts a large number of wind farms: The Windpower 13 website counted 856 wind farms with a total output of 4,914 MW in 2016.
These parks include :
Markbydgen, a 450-square-kilometer park in Piteå.
The park was partially commissioned in 2013 and generates around 2.8 TWh/year.
But also the Blaiken wind farm in the north of the country, a project completed in 2015.
Energy policy
In 2009, the Swedish government set itself a planning framework for wind power production in 2020: 30 TWh divided between onshore (20 TWh) and offshore (10 TWh) wind power.
423 “areas of national interest” for wind energy have been highlighted by the Swedish Energy Agency.
These areas cover around 2.2% of the Swedish territory.
In 2019, wind power subsidies were introduced in the country in the form of Swedish-Norwegian electricity certificates.
However, these are due to disappear in 2021.
About Ardian
Formerly AXA Private Equity, Ardian is a French independent private equity firm founded in 1996 by Dominique Senequier.
The company currently manages over €100 billion in assets in Europe, North America and Asia, and has more than 1,000 investors.
eNordic
Formed through a partnership between ardian and leaders of the world’s leading companies, eNordic is a Nordic platform for sustainable energy.
eNordic uses its expertise to help transform the energy sector.
The firm invests in wind power, biomass, hydroelectricity and district heating, in addition to more traditional assets that are destined to be transformed or managed in a more sustainable way.
