Turnkey construction and sale of a wind farm in Sweden
BayWa r.e. secured planning permission for the wind farm last year after taking on the project in 2016, utilizing its 30 years of wind energy experience to coordinate the project. BayWa r.e. undertook a 12 month wind measurements campaign as part of its optimisation work, helping to secure planning approval and ensure its commercial success.
Axel Veeser, Head of Wind Energy Projects at BayWa r.e., commented: “With extensive experience of bringing more than 1400MW of wind power online across the world, our technical expertise combined with our strong local ability to secure planning approval on complex projects meant we were the perfect partner to take this project through to construction and secure its long term investor.”
Håkan Wallin, CEO of BayWa r.e. Scandinavia AB, added: “This was a complicated project, to get the project ready to build we have solved permit issues, reworked land lease contracts and negotiated various stake holder agreements to name but a few elements. In parallel to this, we also identified and secured the long term owner and investor, Taaleri Energia, through its SolarWind I fund, as well as the wind turbine supplier Nordex – a well balanced match-making process.”
Debt finance for the project is being provided by Skandinaviska Enskilda Banken (SEB), a leading project finance provider in the Nordic region.
BayWa r.e. contracted wind turbine manufacturer Nordex to supply six Nordex N131 3.9 MW turbines for the project. Construction will commence immediately with the wind farm expected to become operational towards the end of 2019.
Once operational the Slageryd wind farm will produce approximately 71 GWh of green electricity per year and an estimated reduction in greenhouse gas emissions of 50,000 tonnes of CO2 each year.
Taaleri Energia Managing Director, Kai Rintala commented “Taaleri is delighted to make its first investment in Sweden and to be working together with BayWa r.e. and SEB. We view this investment in Sweden as the first of many more to come. As the largest private equity owner operator of wind farms in Finland with 110 turbines in operation, we are very comfortable with operating in the NordPool power market. Our investors also greatly appreciate the possibility to structure wind power investments in Sweden in Euros”
Once operational BayWa r.e.’s experienced Swedish maintenance team and state of the art central monitoring hub in Munich, Germany will ensure the wind farm is run safely and at maximum efficiency under a long term asset management contract – producing the best yield for Taaleri Energia.