Low Carbon has recently completed the acquisition of the 30MW Morknasskogen wind project in Finland.
The five-turbine facility forms part of Low Carbon’s exclusive renewables pipeline of more than 120MW being developed in the country.
Morknasskogen is located near the city of Vaasa on the west coast of Finland.
Construction is expected to start in early 2022 and when completed.
Low Carbon Investment Management managing director John Stuart said: ‘We are delighted to announce our acquisition of the Morknasskogen wind project in Finland.
“Closing this transaction demonstrates Low Carbon’s ability to direct capital at scale into renewable energy infrastructure. Finland is a sought after European renewable market and we are proud to be increasing the country’s renewable power mix with affordable and clean wind energy.”
Financing partner for the project is the European infrastructure and energy financing specialist Kommunalkredit Austria, acting as sole mandated lead arranger in the €5.6m warehouse facility.
The bank has also been mandated for the project’s €19m construction bridge financing.
John Weiland, Kommunalkredit’s head of banking, added: “By combining the benefits of a warehousing facility with the funding certainty of a pre-construction bridge facility for this project, Kommunalkredit provided its client Low Carbon with utmost flexibility in light of their continuous growth plans.
“This demonstrates once more our client centric approach and sector expertise.”