Infranode enters agreement with BeGreen for solar farm acquisition in Nordics

Infranode I (Infranode), a Nordic infrastructure investment fund, and BeGreen, a Danish developer of largescale solar parks, have signed an agreement that will lead to the construction of the largest solar park in the Nordics. 

The solar park, Vandel 3, utilizes the land from the decommissioned Vandel airport in the municipality of Vejle in Jutland, Denmark. The park covers 180 hectares equaling 250 soccer fields. With an anticipated annual production of 152,000 MWh, Vandel 3 will cover the annual consumption of around 34,000 households and reduce the carbon footprint with 190,000 tons CO2 emission per year. 

Following Infranode’s investment, BeGreen will continue to hold a minority stake in Vandel 3 and manage the construction, operations, and maintenance of the solar park. 

The construction of the new park will start in early 2020, and Vandel 3 will produce the first power in 2021.  

The seller was advised by Deloitte (M&A, financial and tax), Kromann Reumert (legal) and Krug & Schram (technical). 

The buyer was advised by EY (M&A, financial and tax), Plesner (legal) and K2 Management (technical) and AFRY (commercial).