Prime Capital buys 160-MW shovel-ready wind project in Norway

Wind farm in Norway. Author: John Christian Fjellestad. License: Creative Commons, Attribution 2.0 Generic

October 18 (Renewables Now) - German asset manager Prime Capital has acquired the owner of an up to 160-MW construction-ready wind project in Norway from Swedish company Wallenstam, the buyer said on Wednesday.

Under the deal, Prime Capital has bought the entire share capital of Andmyran Vind AS, which owns the Andmyran wind project in Nordland county’s Andoy municipality. The asset will be added to the portfolio of Prime Capital’s Green Energy Infrastructure Fund, which is expected to reach its first closing in the first half of next year. Financial details about the purchase were not available.

The Andmyran project has in place all needed permits, with its construction planned to begin “as soon as possible,” Prime Capital said. The power plant’s location will be in proximity to the German firm’s Nordlys wind project, which could lead to operating synergies.

Swedbank Corporate Finance Norway acted as Wallenstam’s financial advisor in the deal, while legal advice was provided by Thommessen. Prime Capital’s legal counsel was Simonsen Vogt Wiig.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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