July 14, 2020 - Assignment

Åndberg project financing reaches financial close

Ardian, a world-leading private investment house, has signed a 20-year financing for its 286 MW "Åndberg" wind farm in Sweden. The financing is provided by KfW IPEX-Bank, which is the part of KfW Group responsible for project and export finance.

The long-term financing was secured on the back of a 10-year green power purchase agreement (PPA) with Skellefteå Kraft, one of Sweden's largest energy producers, agreed in October 2019. The financing allows Ardian and eNordic to further optimize and secure more revenue streams for the wind farm.

Ardian Infrastructure acquired the Åndberg wind farm from OX2 in February 2019 as part of its Nordic sustainable energy investment platform, eNordic. The windfarm is relying on the latest technology, having upgraded its Nordex turbines to the 5MW class earlier this year. Following its completion in 2021, Åndberg will each year provide clean electricity in excess of 800 GWh, making it one of the largest wind farms in Sweden.

KfW IPEX-Bank was advised by Mannheimer Swartling in the transaction.