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    Renewable Power Capital buys 528 MW wind farms for 800 million

    June 2, 2022 - Saur News Bureau


      Highlights :

      * The electricity generated at the four wind energy sites in the last quarter of 2025 will be exported.

      * This year, PRC has doubled its wind portfolio by raising it from 317MW to 845MW in Sweden and Finland alone.

      UK based Renewable energy player Renewable Power Capital (RPC) has announced that it has acquired a cluster of wind energy projects with a combined capacity of 528-MW located in the Kramfors and Solleftea municipalities of Sweden for a value of 800 million. This includes the acquisition of the projects and the commitment of the capital required for construction.

      The electricity generated at the four wind energy sites in the last quarter of 2025 will be exported. This is the third deal of PRC this year which has more than doubled the wind portfolio of PRC raising it from 317MW to 845MW in Sweden and Finland alone.

      The official statement reads that this transaction demonstrates RPC's significant investment appetite as it has strong backing from CPP Investments. It said that its flexible capital will continue to help the company to optimize the power contracting and debt financing structure for the wind project sites.

      Bob Psaradellis, CEO, Renewable Power Capital, said, "We are very excited about this deal. It demonstrates not only our ability to invest at scale in European renewables but also showcases our rapidly growing commercial and industrial capabilities across power markets, debt financing, construction management, and procurement."

      "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," he said.

      "We set out to bring a new approach to investing in, owning, and operating renewable energy assets and we see our relationship to projects very much over the long term, which is why we continue to have strong conviction in renewable energy despite the current volatility in the market."

      The onshore wind acquisitions by RPC were also similar in the Finnish and Swedish markets. At the beginning of 2022, RPC revealed the signing of a 10 year power purchase agreement (PPA) for where it sold 171 MW with Elisa, Alpiq, and Gasum in Finland.


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