Rabbalshede Kraft welcomes a new strategic partner
Rabbalshede Kraft welcomes a new strategic and long-term partner into the Company, Manor Investment S.A. (“Manor”).
Manor, a Luxembourg-based industrial player in the renewable energy sector, has invested in Rabbalshede Kraft through a private placement of MSEK 171.6, under which Manor has received 14,300,000 new B shares at a price of SEK 12 per share, corresponding to 32% of the capital. In addition, the Board of Rabbalshede Kraft also plans a preferential rights issue within the nearest future.
Both the private placement that has been issued towards Manor and the planned preferential rights issue are primarily to fund the equity requirement for the construction of the Årjäng NV, Årjäng SV and Skaveröd/Gurseröd wind farms, which encompass a total of 33 turbines and will generate an output of 101 MW. The estimated production of the three wind farms totals 289 GWh annually and will increase the Company’s production capacity by more than 100%.
“It gives us great pleasure to present Manor as a shareholder of the Company. Manor is a private industrial company, known for supporting long-term and sustainable investments, and has significant experience in wind power as the owner of the French wind power company Atalante Energies.
Rabbalshede Kraft plans to jointly commence the construction of the Årjäng NV, Årjäng SV and Skaveröd/Gurseröd wind farms in July 2013 with completion late 2014. The investment in the three wind farms totals MSEK 1,176, of which about one third will be equity. The project will be the largest investment in the Company’s history”, says Thomas Linnard, CEO at Rabbalshede Kraft
Following the private placement, Rabbalshede Kraft’s share capital amounts to MSEK 45,344,777 represented by 1,000,000 A shares and 44,344,777 B shares, with a nominal value of SEK 10 each. Swedbank First Securities has served as the Company’s financial advisor during the process. Manor was advised on this transaction by Treïs, Deloitte, DNV Kema and Vinge.
For further information, please contact;
Thomas Linnard, CEO, Tel. +46 (0) 525-197 11, +46 (0) 706-100 120
thomas.linnard@rabbalshedekraft.se
This is Rabbalshede Kraft AB
Rabbalshede Kraft AB (publ) is a fast-growing player in wind power. Since being formed in 2005, Rabbalshede Kraft has been involved in the commissioning of 48 wind turbines, of which 26 wind turbines in four wind farms are proprietarily managed. An extensive project portfolio comprises the basis for growth. The Company has another 14 turbines under construction and about 350 wind turbines in the procurement, application or planning phase. Rabbalshede Kraft's overriding objective is to create value growth for the Company's shareholders – proprietarily, in partnership with other companies and through divestment - by contributing to the commissioning of 250 turbines by 2015. Follow the Company's progress at www.rabbalshedekraft.com
This is Manor Investment S.A.
Manor is a private industrial company providing long-term development capital to entrepreneurs and industrial projects in Europe aiming for the better use of energy and natural resources. Manor is backed by private, long-term, evergreen investors with a strong industrial and entrepreneurial tradition, committed to strong ethic and governance standards.
Manor's objective is to operate from a limited number of platform companies in four target areas, all geared towards a better and more efficient use of energy and natural resources:
Generation of renewable and decentralised energy: production of green heat and electricity (wind, biomass, hydropower)
Energy efficiency: technologies and services to reduce energy consumption (efficient heating and cooling systems, intelligent buildings)
Sustainable agriculture: environmentally-friendly innovations to promote balanced and sustainable agriculture, responding to the food needs of tomorrow (intelligent irrigation, natural fertilisers, eco-management of water and forests)
Materials efficiency and waste management: timber use, green packaging, recycling of waste across all types of materials for industrials, municipalities and residents
Manor consistently adopts a long-term view on its investments and aspires to partner with family businesses with which it believes its cultural fit is best. It is already active in wind in France, through Atalante Energies and in wood biomass in Austria, through Cycleenergy. Manor is advised by Treïs (www.treispartners.com).
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