Mirova acquires 85.8MW wind farm from RES

16 April 2020 (Last Updated April 16th, 2020 16:34)

Mirova, a European investment firm and an affiliate of Natixis Investment Managers, has acquired the Rödene wind farm from RES.

Mirova, a European investment firm and an affiliate of Natixis Investment Managers, has acquired the Rödene wind farm from RES.

Featuring 13 wind turbines, the Rödene wind farm is located outside Alingsås gjuogin Västra Götaland in Sweden.

Financial details of the deal have not been divulged by both the companies.

Mirova Energy transition funds head Raphaël Lance said: “We are happy to have been able to sign the acquisition of this project in spite of the challenging environment thanks to the strong relationship we have built over the years with RES.

“In this time of economic slowdown and change, we remain committed to increasing local production of renewable energy and pursue our extension in the Nordics started 10 years ago.”

The deal also includes an engineer, procure, construct (EPC) contract, under which RES will build the 85.8MW wind farm.

Once operational, the wind power facility will produce low-carbon electricity that will be sufficient to power more than 40,000 Swedish homes, while offsetting nearly 230,000 tonnes of carbon emissions annually.

Construction works at the site will begin in August this year, and the energisation and handover of the project are planned for April 2022.

Additionally, RES has agreed to provide asset management services for the wind farm.

The Rödene wind farm will be the third project that RES has divested to Mirova, following the Våsberget wind project in 2015 and the Vardafjellet project in 2018.

RES Nordics CEO Matilda Afzelius said: “We look forward to building and operating this project with our client Mirova in this part of the country where electricity demand is particularly high. It’s impressive to think that these 13 turbines will deliver the equivalent power demand of the local city of Alingsås.”