200 MW wind farm in Sweden completes project financing

Private equity fund manager Platina Partners LLP and Swedish onshore wind developer Arise Windpower AB, have completed what they claim is Sweden’s largest ever wind project financing, the €336m ($451) 200 MW Jàƒ¤draàƒ¥s wind farm.

The project will be built in two phases, with the first 130 MW phase to begin in the next few weeks with completion due in the first quarter of 2013.

The investment in Jàƒ¤draàƒ¥s will be made by Platina Energy III Limited Partners in conjunction with Arise Windpower AB. Debt financing was led by DNBNor, with additional funding from Skandinaviska Enskilda Banken and the Danish Government backed EKF. The development will use 66 Vestas V112-3.0 MW machines, Vestas’s largest onshore machine.à‚ 

The project will benefit from Sweden’s green certificate programme through which the Swedish Government aims to generate 49 per cent of its electricity from renewable sources by 2020, up from 39 per cent in 2005.

Emma Collins, a partner in Platina’s Renewable Energy team, said the project reflected the Swedish government’s increased interest in wind.

“Having focused previous clean-energy efforts on hydro, the Swedish Government is now placing increasing emphasis on onshore wind and has targeted to have an installed capacity of over 4.5 GW by 2020,” she said.

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