Cubico EMEA head David Swindin talks new markets, PPAs and... Read more →
Swiss investor makes Swedish onshore wind entry
Nordic onshore wind developer OX2 has reached a deal to sell its 21.6MW Stigshojden wind farm in Sweden to Swiss asset manager Fontavis.
Under the terms of the turnkey deal, Sweden-based OX2 will construct the wind farm and manage it on behalf of Zurich-based Fontavis when it comes on line in late 2019.
The Stigshojden project – which is located in Västernorrland, 35 km southwest of Örnsköldsvik – will comprise six 3.6MW turbines.
The sale price was not disclosed, although capex on the most recent construction-ready Swedish onshore wind project to reach financial close earlier this month – Macquarie-backed Green Investment Group and GE’s giant 650MW Markbygden – averaged around EUR 1.23m/MW.
Construction of Stigshojden – which marks Fontavis’s first Nordic renewables investment – is being funded on an all-equity basis, it is understood.
OX2 is currently building five wind farms totalling approximately 360 MW across the Nordics, 235 MW of which is in Sweden.
It was advised on the Stigshojden sale by Newsec (financial) and DLA Piper (legal).