French investment outfit Ardian is acquiring the 220MW Harjedalen wind project being developed by OX2 in Sweden for €300m.
Nordic developer OX2 will construct the wind farm and will also manage the facility, located in Andberg and Harjedalen, which will be operational in 2021.
The project will use 53 Nordex Delta4000 turbines.
The wind farm will be one of the largest in Sweden and will contribute to the country’s goal of becoming carbon neutral by 2045. Denmark, Norway and Finland all having made similar commitments.
The acquisition of the project forms part of Ardian’s Nordic platform – a new subsidiary company that will be led by industry executives Eero Auranne and Thomas Linnard.
Ardian’s Nordics portfolio, which already includes two wind farm investments in Norway and Sweden, will now exceed 400MW of gross capacity.
Separately, OX2 is currently building over 1GW of wind power in the Nordics, of which approximately 90% is in Sweden.
Ardian Infrastructure managing director Amir Sharifi said: “In OX2, we have found an excellent partner.
“We look forward to together building a state-of-the-art wind farm using the latest available technology. Our goal is to achieve solid returns without subsidy and a positive impact on all stakeholders.”
OX2 managing director Paul Stormoen said: “We are now looking forward to beginning construction together with our sub-contractors.
“The wind farm is a significant local investment and a further important contribution to the ongoing global transition to a renewable energy sector.”
Auranne has 30 years of experience in the energy sector including executive-level roles at Empower and Fortum.
Linnard has over 10 years’ experience in the renewable energy sector, most recently as Rabbalshede Kraft’s chief executive. The company is a Swedish wind power developer and operator.
Auranne said: “Our partnership with Ardian, one of the largest private investment houses in the world, will provide both the resources and expertise to deliver on our plan to build a leading Nordic platform.
“We have already identified several interesting opportunities and look forward to taking advantage of them with Ardian’s support.”
Recently, Ardian’s renewables platform in the US, Skyline Renewables, acquired four additional wind farms expanding its holdings to 803MW.