Renewable Power Capital has secured bridge financing for the construction of a 146MW onshore wind project in Sweden.
Austrian bank Kommunalkredit Austria acted as structuring bank and bookrunner.
Kommunalkredit together with Generali Global Infrastructure on behalf of funds and Nordic Investment Ban are mandated lead arrangers for the €130.7m financing.
The borrower is Klev Wind and is composed of a single wind farm called Klevberget.
Renewable Power Capital, backed by CPP Investments, acquired the portfolio from the Nordic developer OX2, which will be constructing the ready-to-build onshore wind farms.
Kommunalkredit Austria head of banking John Weiland said: “We are proud to be RPC ́s partner of choice once again, contributing our extensive renewables expertise to finance their first Swedish project.
“We have enjoyed working again with the RPC team after last year ́s successful financing in Finland and look forward to continuing with our partnership in the future.”
RPC chief executive Bob Psaradellis said: “Kommunalkredit has been an excellent partner for Renewable Power Capital, and we are thrilled to work with them again on the construction finance for our first project in Sweden.
“The wind farm will provide the clean energy to power the equivalent of 46,000 households and it’s great have been able to work so effectively together to finance its construction.”