Prime Capital offloads 36.2-MW wind portfolio in Finland
Wind farm. Author: Ray Dumas. License:Creative Commons, Attribution-ShareAlike 2.0 Generic.
German asset manager and financial services provider Prime Capital AG said on Wednesday it has sold 36.2 MW of wind parks in Finland to an unnamed buyer.
The bundle includes three wind parks powered by a total of 11 turbines by Germany’s Vestas Wind Systems. According to Prime Capital’s statement, the assets were acquired by two institutional Luxembourg funds advised by a German asset management company.
In a separate press release, Germany’s Encavis Asset Management AG announced the acquisition of a 36.2-MW Finnish wind portfolio on behalf of two funds administered by Luxembourg-based Service-KVG HANSAeINVEST LUX SA. Neither party disclosed the value of the deal.
The wind parks are located across Finland at sites with wind speeds of over 7 m/s. They have been operating for an average of four years and have eight years remaining for receiving support under Finland’s Contracts for Difference (CfD) scheme.
Newsec Infra was Prime Capital’s financial sales advisor, while law firm Krogerus provided legal counsel. Prime Capital noted that funds from the sale will be used for investment in greenfield projects. “We are working on some interesting opportunities in our Infrastructure business at the moment, including in Finland for 2021," added head of infrastructure Mathias Bimberg.
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.