Ardian signs 20-year financing for 286 wind farm in Sweden

Ardian Infrastructure has signed 20-year financing for its 286 MW Åndberg wind farm in Sweden. The financing is provided by KfW IPEX-Bank, which is the part of KfW Group responsible for project and export finance.

The long-term financing was secured on the back of a 10-year green power purchase agreement (PPA) with Skellefteå Kraft, one of Sweden's largest energy producers agreed in October 2019. The financing allows Ardian and eNordic to further optimize and secure more revenue streams for the wind farm.

Ardian Infrastructure acquired the Åndberg wind farm from OX2 in February 2019 as part of its Nordic sustainable energy investment platform, eNordic. The windfarm is relying on the latest technology, having upgraded its Nordex turbines to the 5 MW class earlier this year. Following its completion in 2021, Åndberg will each year provide clean electricity in excess of 800 GWh, making it one of the largest wind farms in Sweden.

Simo Santavirta, Head of asset management, Ardian Infrastructure, said: “This operation highlights our continued commitment to sustainability and relentless activity as we continue to look for investment opportunities to support the sustainable energy transition in the Nordic region.”

Markus Scheer, Member of the Management Board of KfW IPEX-Bank, commented: ”KfW IPEX-Bank is firmly committed to finance innovative energy and environmental projects, and we’re pleased to support Ardian and eNordic’s Åndberg wind farm as they continue to support the sustainable energy transition in the Nordics. It has been a real pleasure to work with their highly competent teams and we look forward to a long-term partnership.”