Renewable Power Capital acquires an onshore wind farm from OX2
Renewable Power Capital has acquired the Klevberget onshore wind farm, comprising 24 wind turbines with a capacity of 146 MW, in their first Swedish deal. OX2 is constructing the wind farm under its construction and asset transfer agreement and will, once commissioned, be responsible for the technical and commercial management of the wind farm. The transaction is valued at EUR 190 million.
Klevberget wind farm is located near Sundsvall, in the Medelpad province of Sweden, and has an expected annual net production of 417 GWh. It will provide clean energy equivalent to the consumption of approximately 46,000 households. Construction will commence immediately, with electricity planned to be available to market in November 2023.
Renewable Power Capital is a pan-European renewable energy investment platform established in 2020, backed by CPP Investments. Renewable Power Capital is registered in the UK, with headquarters in London, and invest in the development, construction, and long-term ownership of solar, onshore wind and battery storage projects, enabling the energy transition and driving stable long-term, risk-adjusted returns.
OX2 develops and sells wind farms and solar parks. Since being founded in 2004, OX2 has taken a leading position in the area of large-scale onshore wind power, having developed and sold around 2.5 GW in Sweden, Finland, Norway and Poland. Based in Stockholm, Sweden, OX2 runs operations in Sweden, Finland, France, Italy, Lithuania, Norway, Poland, Romania, and Spain. OX2 is listed on the Nasdaq First North Premier Growth Market.
Renewable Power Capital was advised by Mannheimer Swartling in the transaction.