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    Renewable Power Capital snaps up 528-MW wind project portfolio in Sweden


    May 31, 2022 - SeeNews Renewables

     

      May 31 (Renewables Now) - Renewable Power Capital (RPC), a UK-based renewables platform backed by Canada Pension Plan Investment Board (CPP Investments), today said it has struck a deal for the acquisition of 528 MW of ready-to-build onshore wind projects in Sweden.

      The cluster includes four sites in Kramfors and Solleftea municipalities that are expected to start supplying power to the grid in the final quarter of 2025.

      The deal represents an investment of EUR 800 million (USD 857m), including the acquisition of the schemes and the funds needed for their construction. It more than doubles RPC’s onshore wind portfolio to 845 MW across Sweden and Finland, with the company also having a solar pipeline in Spain of almost 4 GW.

      RPC will be responsible for the procurement and construction management of the newly acquired projects.

      The company, which was set up in 2020, said the purchase is a sign of its “significant investment appetite, stemming from its backing from CPP Investments.”

      “Today marks a landmark moment, and the biggest deal to date for RPC, but it also forms part of a long-term strategy to invest in post subsidy renewable power and storage infrastructure across Europe,” commented chief executive Bob Psaradellis.

      The sellers, which were not named, were advised by Newsec Infra. “Our advisory scope has in this deal spanned beyond renewable energy M&A to also commercial and technical optimisation during the past two years of development,” noted Omid Ashrafi, managing partner at the advisor.

      (EUR 1 = USD 1.071)

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