SUSI Partners completes Nordics wind platform for second renewables fund
Zug/Zurich, 5 September 2019 – SUSI Partners, manager of the SUSI Renewable Energy Fund II (SREF II), has acquired the 94.6MW Lyngsåsa wind park in Southern Sweden from BayWA r.e., adding to wind projects in Denmark, Norway and Finland already included in the portfolio.
As part of the transaction, SUSI Partners has secured a long-term fixed price Power Purchase Agreement (PPA) and arranged for debt financing with Hamburg Commercial Bank for the project.
The Lyngsåsa wind park will consist of 22 Vestas V150 turbines. The project has been developed from greenfield by BayWa r.e., with operations scheduled to begin in 2021. Annual production will be around 315GWh, providing electricity to the equivalent of 80,000 households, while saving approximately 93,000 tons of CO2 emissions each year.
With significant wind resource and the capability to accommodate large projects, the Nordic countries have become key markets for renewable energy. Across the region, SREF II has acquired eight wind assets – including Project Tonstad in Norway, which will be one of the largest wind parks in the country once operational – with a total capacity of 432.5MW and expected CO2 emissions savings of approximately 384,000 tons annually.