The project financing of the 70.2 MW Riberget Wind Farm owned by Fu-Gen’s project company Riberget Vind AB was completed on 28 June 2023.
The project financing was provided by Norddeutsche Landesbank Girozentrale.
The Riberget wind farm is located 90 km west of Sundsvall in Sweden in the region of Gävleborg. Fu-Gen acquired the project in October 2022 from OX2, with construction starting in Q4 2022 and it is estimated to be completed during second half of 2024. Once commissioned, OX2 will be responsible for the technical and commercial management of the project under a 15-year agreement, optimizing the production and supervising its operations. The wind farm consists of 11 wind turbines with a total capacity of 70.2 MW.
Fu-Gen is a privately held company founded by a group of seasoned renewable energy entrepreneurs. Fu-Gen’s strategy aims for the creation, and long-term ownership of a portfolio made up of wind, solar, hydrogen and storage-based assets. Fu-Gen develops projects from scratch, so-called greenfield, but also invest in projects along the value chain from the pre-permit or ready-to-build phases, through to operating wind and solar assets.
Fu-Gen was represented by Mannheimer Swartling in the transaction.