European Energy sells 17 MW of wind farms in Finland

Vestas turbine. Author: germanborrillo. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

Jan 27 (Renewables Now) - Denmark's European Energy A/S said today it has offloaded wind farms in Finland with a combined capacity of 17.15 MW to an institutional investor.

The parks have five Vestas 3.45-MW turbines and are currently under construction. They were sold to Luxemburg-based investment fund FP Lux Investments SA SICAV-SIF, which is managed by Switzerland's Re:cap global investors ag.

European Energy expects to connect the wind farms to the grid in the second quarter of 2017. Chief executive Knud-Erik Andersen said divestments allow the company to pursue new possibilities and added that it is currently seeing a high level of interest from institutional investors.

Thomas Seibel, chief executive of Re:cap, said that while investor interest in renewables is increasing, the number of suitable investments is limited. "The Scandinavian wind market for example still holds considerable potential and acquiring the JepHau parks is an important step for the successful development of our portfolio," Seibel said.  

Re:cap has so far acquired over 200 MW of onshore wind farms in Western Europe.

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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