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Newsec advises on the acquisition and financing of Kölvallen wind farm

Newsec advised Foresight Energy Infrastructure Partners on their historic tenth investment in the 277 MW Kölvallen wind farm in Sweden.

20 MAJ 2023

 ▪ 3 Min lästid

Omid Ashrafi

Managing Director & Managing Partner Energy Transition

Dela

Tags

Location

Sweden

Client

Foresight Energy Infrastructure Partners

Status

completed

The successful close of this historic deal marks Foresight Energy Infrastructure Partners’ tenth and largest investment to date. Newsec acted as the exclusive buy-side M&A and debt advisor.

The deal is the second between Foresight and Arise. In the previous 231 MW Skaftåsen wind farm transaction concluded in December 2019, Newsec acted as exclusive sell-side adviser to Arise. The 277-MW Kölvallen wind farm is due to be installed in early 2025 and will feature 41 SG 6.6-170 turbines, as well as one SG 6.6-155 turbine. The farm is located in close proximity to the Skaftåsen project.

The contract between the parties is also noteworthy for its lengthy 35-year service contract, assuring the machines operate to the best of their capacities over their lifetime. They will sit on towers of 135 meters for the SG 6.6-170 turbines, and on a 122.5-meter tower for the SG 6.6-155 version. NORD/LB has provided a financing package as sole MLA to support the construction of the wind farm.

Theodora Forbes, Senior Investment Manager at Foresight, added:

“We are delighted to be expanding our presence in Sweden, alongside Arise and SGRE, with this addition to FEIP’s growing portfolio. Kölvallen and Skaftåsen are milestone onshore wind projects for the Nordic region with each making a significant contribution to the region’s decarbonisation targets. As demand for secure energy grows, exacerbated by ongoing geopolitical events, FEIP is well positioned to support the build-out of Europe’s low-carbon energy system.”

Per-Erik, Eriksson CEO at project developer Arise, added:

“We are happy to realize another great project with Foresight and Siemens Gamesa. The wind farm will produce almost 1 TWh of renewable power per year, which is a material contribution to the Swedish power balance and an important measure to mitigate climate change.”

Heiko Ludwig, Global Head Structured Finance at NORD/LB:

“We are extremely pleased to have supported Foresight and Arise in the financing of this landmark project, deploying the latest Siemens technology. The Nordics are a prominent market for renewables and we are committed to provide innovative solutions to accelerate the energy transition.”
Omid Ashrafi, Managing Partner at Newsec commented:

“We are delighted to have supported Foresight as M&A and debt adviser on this transaction and for closing another large-scale Swedish wind farm with Arise. It’s a privilege to be part of the build-out of new cost efficient renewable energy production as part of the ongoing energy transition.”

Further information:
https://www.foresightgroup.eu/news/siemens-gamesa-arise-and-foresight-team-up-again-for-new-swedish-project

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