Renewable Power Capital locks the debt for 146-MW wind projects in Sweden
July 5 (Renewables Now) – Renewable Power Capital (RPC), a UK platform for renewable energy supported by the Canada Pension Plan Investment Board, has secured bridge financing to support the construction of a recently acquired 146 MW wind project in Sweden.
The total debt of EUR 130.7 million (USD 136.4 million) was extended by Kommunalkredit Austria AG, which acted as the structuring bank and bookrunner for the transaction, the Vienna-based lender said last week. Its partners in the deal were Generali Global Infrastructure (GGI) and Nordic Investment Bank (NIB).
The financing will support the construction of the wind project Klevberget in Ange, Central Sweden. The system was developed by the Stockholm-based developer OX2 for renewable energy and was acquired by RPC in February in a step that marked its entry into the Nordic country. According to the arrangement, OX2 will be responsible for the construction of the wind farm.
Klevberget will be equipped with 24 General Electric turbines, which are expected to generate enough electricity for approximately 46,000 homes. The turbine installation is expected to start during the second quarter of next year, while the wind farm’s full commissioning is planned for the second half of 2023.
(1.0 EUR = 1.043 USD)
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