OX2 and Fontavis sign another wind farm agreement for Sweden
Fontavis, a Swiss Asset Manager for renewable energy and infrastructure investments, has signed a purchase agreement with OX2 for 33 MW wind power. The agreement covers the Orrberget wind farm in Sweden, consisting of nine Nordex turbines. This is the second deal between the parties within a short space of time.
Orrberget wind farm in Ludvika municipality is estimated for completion in the autumn of 2019. OX2 will thereafter have a contract for technical and commercial management. The expected average production is approximately 96 GWh per year.
“The addition of Orrberget to the newly established “Fontavis SCS SICAV-RAIF – Renewables Infrastructure Fund Europe” allows us to strengthen our position in the Nordics and to achieve a critical size with regard debt financing as well as from a power offtake perspective”, says Marc Schürch, Director of Fontavis.
It is the third investment of the Fund and the Asset Manager is aiming to increase its exposure to renewables over the coming months.
“We are delighted to be doing business with Fontavis again in such a short period of time. The project will strengthen our market position in the Nordic region, where we are currently building seven wind farms, delivering a total of 750 MW”, says Paul Stormoen, Managing Director of OX2 Wind.
OX2 and Fontavis signed the purchase agreement for the 21.6 MW Stigshöjden wind farm in Västernorrland, in mid-November.
Facts about the Orrberget wind farm
- The facility will comprise 9 Nordex N117 3.6 MW wind turbines, each having a total height of 150 metres
- The expected average production is approximately 96 GWh per year, which corresponds to the annual consumption of electricity for approximately 19,200 households (5,000 kWh per household)
- Estimated commissioning in autumn of 2019
- The major sub-contractors are: Nordex (turbines), NCC (bases and groundwork) and Borlänge Energi Elnät (grid connection).
For more information, please contact:
Paul Stormoen, Managing Director OX2 Wind, Tel. +46 (0)70-671 18 18, paul.stormoen@ox2.com
Marc Schürch, Director Fontavis, Tel. +41 41 545 41 00
OX2 is a renewable energy company with operations in wind power, solar power, bioenergy and geothermal energy. By offering sustainable investments, system solutions and products to financial operators, businesses and consumers, OX2 is a driving force in the conversion towards a renewable energy sector and a fossil fuel-free vehicle fleet. The company has offices in Sweden, Finland, Lithuania, France and Germany. Its headquarters are located in Stockholm, Sweden.
OX2 has developed and constructed almost 1600 MW of wind power and is one of the leading players in onshore wind power in northern Europe. In the field of bioenergy, OX2 operates two biogas plants in southern Sweden, with an annual production of approx. 90 GWh of biogas. For more information, please visit www.ox2.com
About Fontavis
Fontavis is an independent asset manager specialized in energy infrastructure investments in Switzerland and selected Northern- and Western European countries. Fontavis invests on behalf of its clients and its funds in renewable energy generation, energy transmission, as well as other renewable energy infrastructure assets. Fontavis is considered as a bridge builder between Institutional Investors and the Energy industry. Fontavis currently manages more than EUR 500m in 17 portfolio companies and acts as investment manager for UBS Clean Energy Infrastructure Switzerland 2 (UBS-CEIS 2) as well as investment advisor for UBS Clean Energy Infrastructure Switzerland (UBS-CEIS). For more information, please visit www.fontavis.ch.
Tags: