German renewables asset manager Luxcara has bought the up to 750MW Onusberget wind farm in Sweden from developer Svevind for an undisclosed price.
The acquisition is for a portfolio of unnamed institutional investors that will receive revenues under a power purchase agreement.
Luxcara plans to start construction this year and have the project in commercial operation at the end of 2021.
Onusberget is part of Markbygden 1101 cluster and will be located in Norrbotten, 30km west of Pitea.
Luxcara managing partner Alexandra von Bernstorff said: “We are very pleased to be able to invest in one of Europe’s most attractive wind power locations and contribute to Sweden’s ambitious goal of being carbon dioxide neutral in 2045.
“The project combines large natural resources with our expertise in structuring long-term energy purchase agreements on the world’s largest energy market.”
Svevind chief executive Wolfgang Kropp said: “Having worked on the development of the Markbygden 1101 cluster since 2002, Svevind is very excited about this partnership with Luxcara.
“We are pleased to see the success of our hard work, once more demonstrated by the attention the Onusberget wind farm has attracted from world-class asset managers such as Luxcara.
“We look forward to seeing this project and future projects within Markbygden 1101 constructed and contributing to the much-needed fight against climate change.
“Svevind is very thankful for our local partners in Northern Sweden, who have contributed substantially to the success of this landmark project.”
CMS Hasche Sigle Partnership von Rechtsanwalten und Steuerberatern and law firm DLA Piper Sweden were legal advisors to Luxcara.
Cirio Advokatbyra and Hogan Lovell were legal advisors and 4initia and Fieldstone financial advisors to Svevind.