Luxcara opens 111.2MW wind farm in Norway

29 May 2018 (Last Updated May 29th, 2018 11:36)

Germany’s asset management company Luxcara has officially opened a wind farm comprising 33 turbines in Egersund, Norway.

Luxcara opens 111.2MW wind farm in Norway
Luxcara opens wind farm in Egersund, Norway. Credit: LUXCARA GmbH.

Germany’s asset management company Luxcara has officially opened a wind farm comprising 33 turbines in Egersund, Norway.

The new farm has the capacity to generate 111.2MW of clean energy, and is expected to strengthen Norway’s commitment to reduce the country’s emissions by 40% by 2030.

Luxcara managing partner Dr Alexandra von Bernstorff said: “Opening the Egersund wind farm on schedule demonstrates how important it is to us to respect the needs of the various stakeholders.

"The new farm has the capacity to generate 111.2MW of clean energy, and is expected to strengthen Norway’s commitment to reduce the country’s emissions by 40% by 2030."

“It is eminently important to us that our financial commitment achieves a positive social and ecological effect. We would be pleased to partner with Norwegian institutional investors as well when we invest in renewable energy and infrastructure in the future.”

In December 2015, Luxcara acquired Egersund wind farm with an objective to create a renewable-energy portfolio for institutional investors. At that time, it was still in the development stage.

The investor pool comprises institutionals, which aim to achieve a reliable return with clean technologies, and thus with renewable energy.

A 15-year power purchase agreement (PPA) was already signed with the Axpo Group in Switzerland in November 2016.

As part of its commitment to the local environment, Luxcara created new walking paths in the vicinity of the wind farm.

Founded in 2009, the company focuses on creating investment opportunities in renewable energy and infrastructure for institutional investors.

Luxcara’s portfolio includes solar and wind power plants in Europe with a total capacity of almost 1GW and an investment volume of nearly €2.3bn.