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June 1, 2022

RPC to acquire 528MW onshore wind portfolio in Sweden for €800m

The deal increases RPC’s onshore wind portfolio across Sweden and Finland from 317MW to 845MW.

UK-based energy investment firm Renewable Power Capital (RPC) has agreed to acquire four ready-to-build onshore wind projects in Sweden with a combined capacity of 528MW.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The €800m ($856m) deal includes acquisition costs and the capital required for constructing the projects.

Located in Sweden’s Kramfors and Sollefteå municipalities, the four projects are expected to start exporting power to the country’s national grid in 2025. 

RPC will also be responsible for the procurement and construction management of the four onshore wind farms.

The projects are expected to collectively produce enough clean energy to power 182,000 homes.

The deal is RPC’s third so far this year and has increased its onshore wind portfolio across Sweden and Finland from 317MW to 845MW.

In addition to its onshore wind capacity, the company has a 4GW solar photovoltaic (PV) pipeline in Spain. 

RPC CEO Bob Psaradellis said: “Today marks a landmark moment and the biggest deal to date for RPC, but it also forms part of a long-term strategy to invest in post-subsidy renewable power and storage infrastructure across Europe.

“We set out to bring a new approach to investing in, owning and operating renewable energy assets and we see our relationship to projects very much over the long term, which is why we continue to have strong conviction in renewable energy despite the current volatility in the market.

“Increased renewables capacity in Europe in a post-subsidy world is good for energy security and for the energy transition.”

The name of the seller has not been disclosed, but they were advised by Newsec Infra.

Newsec Infra managing partner Omid Ashrafi said: “We are delighted to sign the deal with RPC and work alongside the team to enable the construction of this high-quality 528MW portfolio.”

Last March, RPC partnered with Spanish solar PV developer Benbros Solar to develop 14 solar energy projects across Spain.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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