Renewable

(ADPnews) - Aug 13, 2010 - Sweden-based NV Nordisk Vindkraft AB and UK private equity firm HgCapital have signed agreements for the sale and construction of a 44 MW wind farm in Sweden.

The Ytterberg project in the Malå Municipality, Västerbotten County, was developed by Nordisk Vindkraft, a subsidiary of Renewable Energy Systems, that will also build the project under an EPC contract. HgCapital provided the equity for the project and arranged 17-year project financing underwritten by Commerzbank, HgCapital said on Wednesday. It did not provide financial details on the project.

Construction has already started, and the project should be fully operational in early 2012. The facility will feature 22 V-90 2 MW turbines supplied by Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS). The plant will produce electricity sufficient to power 25,000 households.

“With the acquisition of 100% of the Ytterberg wind farm we will consolidate our leadership position in Swedish wind power generation with nearly 140 MW operating or in construction,” said Jens Thomassen of HgCapital.