Stockholm, 9th July 2020 – Ardian, a world-leading private investment house, has signed a 20-year financing for its 286 MW “Åndberg” wind farm in Sweden. The financing is provided by KfW IPEX-Bank, which is the part of KfW Group responsible for project and export finance.
The long-term financing was secured on the back of a 10-year green power purchase agreement (PPA) with Skellefteå Kraft, one of Sweden’s largest energy producers, agreed in October 2019. The financing allows Ardian and eNordic to further optimize and secure more revenue streams for the wind farm.
Ardian Infrastructure acquired the Åndberg wind farm from OX2 in February 2019 as part of its Nordic sustainable energy investment platform, eNordic. The windfarm is relying on the latest technology, having upgraded its Nordex turbines to the 5MW class earlier this year. Following its completion in 2021, Åndberg will each year provide clean electricity in excess of 800 GWh, making it one of the largest wind farms in Sweden.
The Åndberg wind farm is one of four current wind power investments managed by Ardian’s new sustainable energy investment platform, eNordic. Earlier this year, Ardian made its first investment in Finland, being the acquisition of the Lakiakangas 1 wind farm from German-based wind power company, CPC Finland Oy.
Thomas Linnard, Managing Director, eNordic, says: “This agreement is the latest step in our strategy to build a leading independent sustainable energy group in the Nordic region. The long-term financing was secured at very attractive terms despite current market conditions and high level of complexity involved, highlighting the strength of the project and our approach.”
Simo Santavirta, Head of asset management, Ardian Infrastructure, says: “This project is a great example of our asset management capabilities and ability to improve our investments’ performance including financing, hedging, build-ups and technical optimization.”
Amir Sharifi, Managing Director, Ardian Infrastructure, adds: “This operation highlights our continued commitment to sustainability and relentless activity as we continue to look for investment opportunities to support the sustainable energy transition in the Nordic region.”
Markus Scheer, Member of the Management Board of KfW IPEX-Bank, says: ”KfW IPEX-Bank is firmly committed to finance innovative energy and environmental projects, and we’re pleased to support Ardian and eNordic’s Åndberg wind farm as they continue to support the sustainable energy transition in the Nordics. It has been a real pleasure to work with their highly competent teams and we look forward to a long-term partnership.”
Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 550 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
eNordic is the Nordic’s first sustainable energy platform, formed by a partnership between Ardian, a world-leading private investment house, and leading domestic industry executives.
Through a local, responsible and agile investment approach, eNordic enables the transformation of the energy sector through long-term partnerships with those that develop or operate sustainable energy projects in the Nordics.
It invests in opportunities in wind, biomass, hydro and district heating, in addition to traditional energy assets that have the potential to be transformed or managed in a particularly sustainable way.
eNordic is based in Sweden and Finland, with local teams operating throughout the Nordics region.
ABOUT KfW IPEX-Bank
Within KfW Group, KfW IPEX-Bank is responsible for project and export finance. It supports German and European companies operating in key industrial sectors in global markets by structuring medium and long-term financing for their exports, funding infrastructure investments, securing a raw materials supply and by financing environmental and climate protection projects worldwide. As a specialist bank, KfW IPEX-Bank has extensive industry, structuring and country expertise, it takes on leading roles in financing consortia and actively involves other banks, institutional investors and insurance firms. KfW IPEX-Bank operates as a legally independent group subsidiary and is represented in the most important economic and financial centres across the globe.
LIST OF ADVISORS (ARDIAN AND eNORDIC)