Investment house Ardian Infrastructure has secured financing for the 286MW Andberg wind project in Sweden.
The 20-year financing is with KfW IPEX-Bank, which is the part of KfW Group responsible for project and export finance.
The financing was secured on the back of a 10-year power purchase agreement (PPA) with Skelleftea Kraft, one of Sweden’s largest energy producers, agreed in October 2019.
The financing allows Ardian and eNordic to secure more revenue streams for the wind farm.
Ardian Infrastructure acquired Andber, as part of its Nordic sustainable energy investment platform eNordic, from OX2 in February 2019.
The wind farm upgraded its Nordex turbines to the 5MW class earlier this year.
Following completion in 2021, Andberg will each year provide clean electricity in excess of 800 gigawatt hours annually, making it one of the largest wind farms in Sweden.
Andberg is one of four current wind power investments managed by Ardian’s new sustainable energy investment platform, eNordic.
Earlier this year, Ardian made its first investment in Finland, acquiring the Lakiakangas 1 wind farm from German-based wind power company, CPC Finland.