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Sweden's Largest Wind Project Financing Completed

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Platina and Arise Windpower unveil 200MW Jädraås project


Private equity fund manager Platina Partners LLP (Platina) and Swedish onshore wind developer Arise Windpower AB, have completed Sweden’s largest ever wind project financing, the €336 million, Jädraås windfarm. At 200MW, the project – to be built in two phases – will be one of the largest onshore wind farms in Europe. Construction of the first 130MW will begin in the next few weeks with completion expected in the first quarter of 2013.

The investment in Jädraås will be made by Platina Energy III Limited Partners in conjunction with Arise Windpower AB. Debt financing was led by DNBNor, with additional funding from Skandinaviska Enskilda Banken and the Danish Government backed EKF. The development will utilise 66 of Vestas’ V112-3.0MW machines, Vestas’ largest onshore machine.

The project will benefit from Sweden’s green certificate programme through which the Swedish Government aims to generate 49% of its electricity from renewable sources by 2020, up from 39% in 2005.

Commenting on the announcement Emma Collins, a partner in Platina’s Renewable Energy team said: “We are delighted to announce that we have completed the financing of our Jädraås windfarm. As our first development in Scandinavia this is a landmark project for Platina and as one of the largest onshore wind farms in the country, it will also be of great importance to Sweden.

“Having focused previous clean-energy efforts on hydro, the Swedish Government is now placing increasing emphasis on onshore wind and has targeted to have an installed capacity of over 4.5GW by 2020. Jädraås will be an important step on that road and will demonstrate that major onshore wind projects are viable for Sweden.”

Mikael Schoultz, also a partner in the Platina Renewable Energy team added: “The fact that we have been able to successfully finance this scheme, despite the ongoing economic turbulence, is testimony to the quality of the project and our development partners Arise Windpower. We now look forward to starting work on progressing Jädraås through to operations in Q1 2013.”

Peter Nygren CEO, Arise Windpower AB commented: “Platina is a valuable and knowledgeable partner, and we hope to develop this relationship on other projects. The partnership during the period to close on the Jädraås project has proven to contribute large synergies to both our organisations. When the Jädraås wind farm is fully operational in spring 2013 Arise will have a total annual production of about 650 GWh of renewable electricity,”

Platina’s portfolio includes 244MW of renewable energy projects in operation and over 500MW of projects in development. Since Platina was established in 2002, it has invested in 1,700MW of renewable energy projects.

About Platina Partners LLP

Platina Partners LLP is an independent European investment firm established in 2002. It focuses on renewable energy infrastructure projects (mostly wind and solar) and special situation buyouts to transform businesses.

With equity under management of c.€500m and an experienced investment team based in London, Paris and Milan, Platina Partners has a track-record of delivering value to its investor base which comprises leading institutional investors, pension funds and family offices.

This investment comes from the Platina Energy III Fund which closed in March 2010.

For more information please visit the website: www.platinapartners.com

About Arise Windpower AB (publ)

Arise Windpower is one of Sweden’s leading companies in onshore wind power. Arise Windpower’s business concept is to sell electricity generated at the company’s own onshore wind turbines in southern Sweden. The company is aiming to install and put into operation about 300 wind turbines with an annual output of about 2 TWh of green electricity by 2014. Arise Windpower is listed on NASDAQ OMX Stockholm. www.arisewindpower.se

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