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HgCapital buys 44 MW wind farm in Sweden

HgCapital has bought a 44 MW wind farm in Malå, Västerbotten, Sweden, which will be developed by NV Nordisk Vindkraft AB.

The Ytterberg wind farm project was developed by Nordisk Vindkraft, a subsidiary of Renewable Energy Systems (RES), who will also build the project under an EPC contract, using 22 Vestas V-90 2 MW wind turbines.

Construction has already started, and the wind farm should be fully operational in early 2012.

"We are very pleased with the sale of Ytterberg, another successful wind farm development from Nordisk Vindkraft and, at 44 MW, a significant project in the Swedish wind energy market. It demonstrates a continued appetite in the financial sector for investing in wind energy, which is proving to be a viable and successful energy choice for Sweden. We are delighted to be awarded the EPC contract to build the project and look forward to working again with HgCapital and Vestas towards successful completion of construction,” says Arne Lorenzen, CEO of Nordisk Vindkraft.

"With the acquisition of 100% of the Ytterberg wind farm we will consolidate our leadership position in Swedish wind power generation with nearly 140 MW operating or in construction and I am confident we will continue to successfully build on the experiences and relationships we have developed with Nordisk Vindkraft and Vestas,” adds Jens Thomassen of HgCapital.

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