German asset manager Prime Capital has acquired the under-development 160MW Andmyran wind farm in Norway from Swedish company Wallenstam for an undisclosed price.
Under the terms of the deal, Prime Capital acquired 100% of the share capital of the wind power company Andmyran Vind for its new Green Energy Infrastructure Fund.
The fund is expected to reach first closing in the first half of 2020.
Andmyran is a fully permitted onshore wind project located on Andenes, Andoy Municipality, approximately 170km away from the city of Harstad in the Nordland county of Norway.
Construction will start as soon as possible, Prime Capital said.
It added that the new wind farm will be located in the same region and price area as the Nordlys project developed, built and managed by Prime Capital, and could benefit from operating synergies.
Swedbank Corporate Finance Norway acted as financial advisor to Wallenstam.
Legal advisors were Thommessen for the sell side and Simonsen Vogt Wiig for the buy side.