Nordic developer Landinfra Energy AB and asset manager Eiffel Investment Group via its managed investment funds Eiffel Infrastructure Vertes and Eiffel Transition Infrastructure have entered into an agreement to develop a renewables pipeline of up to 1800MW in Sweden.
The portfolio consists of solar, wind and energy storage projects. As part of the agreement Eiffel acquires 50% of the schemes from Landinfra, which will retain the remaining 50%.
The portfolio is divided over 1350MW solar sites with co-located energy storage and 300MW of wind power with co-located energy storage as well as 140MW of standalone energy storage projects.
The majority of the 10 projects in the portfolio are located in SE3 in Sweden, with the remainder in SE4.
All schemes are in development stage and the first sites could be ready-to-build in the coming year, pending all required permits to be obtained.
Fully successful and built out, the portfolio will have an investment volume beyond €1.5bn and will annually generate around 2TWh of green energy to the Swedish energy system.
The completion of the transaction is subject to the approval of the Swedish Inspectorate of Strategic Products.
“We are pleased to join forces with Eiffel to jointly develop a large-scale renewable energy portfolio in Sweden,” said Landinfra co-founder and chief executive Marcus Landelin (pictured).
“Eiffel is a leading asset manager in the European market, with strong experience from development partnerships and funding, and jointly we will bring the necessary capabilities and financial strength to add new and much needed sustainable energy production to SE3 and SE4.
“This partnership is in line with Landinfra’s strategy to enable investors to enter renewable energy projects already at the development stage.”
Head of Infrastructure at Eiffel Investment Group Pierre-Antoine Machelon added: “We are very excited about this new partnership with Landinfra.
“This new transaction will accelerate the deployment of additional renewable energy capacity in Sweden by bringing much-needed equity in the development phase of the projects and leveraging Landinfra’s strong experience of renewables development.”