The Marguerite Fund makes its first investment in Sweden

The Marguerite Fund has announced the purchase of a 46.8 MW ready-to-build onshore wind project from Element Power and its Joint Venture partner Kraftö AB.

The project involves the design, construction and operation of the 46.8MW Grimsås onshore wind project located 100km east of Gothenburg. Set to comprise 13 Siemens SWT 3.6-130 WTGs the project will commence construction shortly and is scheduled to be fully operational in the second half of 2018. Civil engineering company Svevia is providing Balance of Plant services.

Element Power, a European developer and operator of energy projects, and Kraftö, a wind farm developer, will jointly manage construction of the project. Long-term operational management of the wind farm will be undertaken by Element Power Asset Management.

William Pierson, Managing Director of Marguerite Adviser S.A., said:

“This project is our first investment in the onshore wind sector in Sweden. We have been looking at investing in Swedish onshore wind for the last few years and believe this is the right project for Marguerite. We are happy to collaborate with Element Power and Kraftö who already have extensive construction and operation management experience in that sector and have shown strong commitment in developing the Grimsås project.” 

Marguerite was advised on the transaction by Setterwalls,  Mott MacDonald and Deloitte.