Aquila Capital has increased its exposure to renewable energy in Scandinavia by agreeing a majority co-investment in Norway’s largest operational wind park, Midtfjellet. The shares have been purchased from the Norwegian utility Energiselskapet Buskerud AS. The transaction underlines Aquila Captial’s strategy of acquiring renewable energy assets through co-operations with energy companies.
Midtfjellet is located near the coast in the south of the country approx. 60km from Norway’s second largest city, Bergen. It has been connected to the grid since 2013 and contains 44 Nordex N 100 and N 90 turbines. The project has an installed capacity of 110 MW and an extension permit of 40 MW.
Roman Rosslenbroich, CEO and co-founder of Aquila Capital, concluded: “With the acquisition of the shares in the wind park Midtfjellet we have captured an investment opportunity that further strengthens Aquila Capital’s presence in the Scandinavian market. Our experience of previous transactions with strategic local partners in Scandinavia has been very positive and we are looking forward to a successful, long-term cooperation with our Norwegian co-investors.”
