Element Power and joint venture partner Kraftö have completed the sale of the 46.8MW Grimsås construction-ready wind farm in Sweden to the Marguerite Fund.
The project, which is located 100km east of Gothenburg, will feature 13 Siemens SWT 3.6-130 turbines with tip heights of 185 metres.
Element Power and Kraftö will jointly manage construction of the project with Svevia providing balance of plant services.
Element Power Asset Management will undertake long-term operational management of the wind farm.
Newsec advised Element Power and Kraftö on the sale, with Vinge acting as legal advisers.
Element Power chief executive Mike O’Neill said: “We look forward to bringing Grimsås into operation for the Marguerite Fund, who have demonstrated the depth of their sector knowledge and professionalism throughout this transaction.”
Marguerite Adviser managing director Bill Pierson said: “We have been looking at investing in Swedish onshore wind for the last few years and believe this is the right project for Marguerite.”
Image: Siemens
