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Swiss investor buys up Finnish wind
Re:cap Global Investors has completed the acquisition of a 17.25MW onshore wind portfolio in Finland from Danish developer European Energy.
Swiss-based Re:cap acquired the assets – which consist of five 3.45MW Vestas turbines – for an enterprise value of circa EUR 40m on behalf of Luxembourg-based investment fund FP Lux Investments S.A. SICAV-SIF.
The turbines were commissioned in the first half of 2017 and will receive a feed-in tariff of EUR 83.5/MWhr for 12 years.
Project finance for the portfolio has been provided by HSH Nordbank.
Re:cap is looking for further acquisitions in Finland and across the Skandinavian market, while European Energy CEO Knud Erik Anderson said the developer was “hoping to expand its pipeline” in the Nordics in the wake of the sale.