Prime Capital buys 70-MW shovel-ready wind project in Sweden
Image by Prime Capital AG.
August 1 (Renewables Now) - German independent asset manager Prime Capital AG has acquired a 70-MW ready-to-build wind project in Sweden from local developer Krafto.
The deal was announced on Friday by energy and infrastructure consultancy Newsec Infra, which was the seller’s exclusive advisor in the transaction. The value of the investment, made through the Prime Green Energy Infrastructure Fund, was kept under wraps.
To be installed in Sweden’s SE3 zone, the Hallosa wind farm will be built at a cost of more than EUR 100 million (USD 102.4m). Its construction is planned to be launched within the next few months, once all contracts for that purpose have been finalised, with the plant scheduled to be brought online in the closing quarter of 2024.
Mathias Bimberg, Head of Infrastructure at Prime Capital, separately wrote in a LinkedIn post that building activities will be initiated in five months. He noted that the transaction was the fastest ever for Prime Capital as it has taken the German firm only five weeks to conduct full due diligence and close the deal.
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.