Energy Infrastructure Partners (EIP) has secured a debt financing structure on behalf of investors for the 253MW MB2 North wind farm, which is part of the second phase of the Markbygden 1101 cluster in northern Sweden.
“Following an initial all-equity acquisition of a majority stake in MB2 North, this landmark debt transaction optimizes the project’s capital structure, while allowing for the remaining shares held by Enercon to be acquired by EIP on behalf of funds it manages,” EIP said.
The project bond amount, in the hundreds of millions, was subscribed to by a group of 10 institutional investors advised by MEAG.
The long-term, fully merchant project bond is one of the largest globally and is unique in its tailor-made, risk-reducing features, EIP said.
EIP co-head of investments Peter Schumers said: “With this transaction, funds managed by EIP will have sole ownership for the first time, which is a testament to the strong development of our in-house management capabilities.
“MB2 North supports the European energy transition and plays an important role in helping to achieve Sweden’s fossil-free ambitions.”