Prime Capital’s fund has closed the acquisition of Project Sandbacka, a 90MW ready-to build wind farm in Finland.
The wind farm will comprise of 14 wind turbines with a tip height of up to 200 metres.
An acquisition agreement for Project Sandbacka has been signed with Svevind, a privately owned developer of renewable energy projects and its co-development partner AB Vindkraft i Skog.
The wind farm has been acquired by Prime Green Energy Infrastructure Fund (PGEIF), managed by Prime Capital AG
With this final investment, PGEIF is already fully deployed or allocated well before the end of its investment period, and fundraising for its successor fund PGEIF II is expected to start soon.
Prime Capital will be responsible for the procurement and completion of all required project agreements to realize the project by end of 2024, with a start of construction in 2023.
“We are pleased to announce that with this transaction we have realised our tenth and final PGEIF investment and have now fully deployed the committed capital of the fund.
“Project Sandbacka fits perfectly well in the fund’s strategy with regard to size, technology and geography.
“In addition, Sandbacka offers the opportunity to be integrated in our recently announced Kristinestad Energy Cluster as a source of green energy,” said Mathias Bimberg, Head of Infrastructure at Prime Capital.