RES sells 372 MW Bjornberget wind project to Prime Capital, Enlight
Renewable Energy Systems, Ltd. (RES) has sold its Björnberget wind project to German independent asset manager Prime Capital AG who brought in co-investor Enlight Renewable Energy (Enlight). The transaction is RES’ first deal with Prime Capital and their first investment from its newly launched Prime Green Energy Infrastructure Fund (PGEIF, the Fund). The PGEIF focuses on wind-powered energy assets in the Nordic countries, with no reliance on government support and with the lowest Levelized cost of electricity in Europe.
At 372 MW, the Björnberget project is not only one of the largest onshore wind farms in Sweden, but one of the largest to start construction in Europe this year. The project is expected to reach commercial operation at the beginning of 2023. When constructed, the project will produce the equivalent consumption of circa. 300,000 European households and help avoid over 600,000 tonnes of CO2 a year.
The Björnberget project was developed by RES and is currently in the final development stages, having obtained a final building permit, completed environmental assessments, and secured a grid connection agreement and all mainland use rights. RES is to provide the balance of plant for the project, and the commercial and technical management during the operating phase. This will grow RES’ Asset Management portfolio in Scandinavia to over a gigawatt.
Prime Capital is in exclusive negotiations with a global technology company to sign a 10-12 year power purchase agreement (PPA) off-taking roughly half of the project’s electricity production. Including Björnberget, Prime Capital’s renewable energy portfolio in the Nordics soars to over 1GW, making it the second-largest investor in the region.
Siemens Gamesa has been selected to provide the turbines, utilizing 60 of its SG 5.8-170 turbines. These will operate at 6.2MW, which combined with the largest rotor in the onshore segment, maximizes production for the site and minimizes the cost of energy.
