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Luxcara expands in Scandinavia with 750-MW Swedish wind buy

Wind farm in Sweden. Author: Jämtkraft. License: Creative Commons, Attribution 2.0 Generic.

April 29 (Renewables Now) - German renewables investor and asset manager Luxcara GmbH said today it has bought the 750-MW Oenusberget wind project in Sweden from German-Swedish developer Svevind, without disclosing the value of the deal.

The project is one of the largest single-site onshore wind schemes in Europe and is part of the Markbygden 1101 cluster. Luxcara said it purchased the asset for a portfolio of unnamed institutional investors. It anticipates that construction of the facility in Sweden’s Norbotten county would begin this year, with commercial operations to be reached by end-2021. The wind farm will be selling its output under a power purchase agreement (PPA).

According to the statement, Svevind will continue to support the implementation of the project until grid-connection.

CMS Hasche Sigle Partnership von Rechtsanwalten und Steuerberatern mbB and law firm DLA Piper Sweden acted as Luxcara’s legal advisors. Svevind, meanwhile, received legal counsel from Cirio Advokatbyra AB and Hogan Lovells LLP. 4initia GmbH and Fieldstone acted jointly as Svevid's financial advisor.

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Browse all articles from Veselina Petrova

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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