Prime Capital has sold three Finnish wind parks. The portfolio consists of 11 Vestas turbines, totalling 36.2MW. Spread across Finland, it provides diversified wind exposure to the investors and benefits from excellent wind resources well above 7m/s. The projects have been operating for an average of four years and have another eight years remaining under Finland’s attractive contracts-for-difference regime. The portfolio was acquired by two institutional Luxembourg funds, advised by a German asset management company.
The projects were part of an account managed on behalf of a German pension fund, focusing on wind and hydro assets in the Nordics.
“We are happy to have achieved a very attractive return for our investor on this divestment, due to several optimisations in the portfolio, and see the proceeds reinvested in our value-add strategy, through the Prime Green Energy Infrastructure Fund. Focus of this fund is on large-scale greenfield renewable projects in the Nordics, offering the lowest levelised cost of energy in Europe with no reliance on government support”, says Dr Mathias Bimberg, Head of Infrastructure at Prime Capital. “We are working on some interesting opportunities in our Infrastructure business at the moment, including in Finland for 2021.”
Sales advisor was expert infrastructure and energy M&A advisor Newsec Infra, while on the legal side Prime Capital was advised by Finnish law firm Krogerus. PWC Germany provided structuring support.