Infracapital has agreed to acquire two planned Finnish onshore wind farms, totaling 60 MW, from developer OX2 for undisclosed terms.
Construction of the Kröpuln and Storbacken wind farms is expected to start in autumn this year, with commercial operation anticipated to begin in the fourth quarter of 2021. The wind farms have an estimated total production output of about 206 GWh per year, according to an Aug. 19 news release.
Following its divestment, OX2 remains involved with the projects as asset manager throughout contraction and operation.
The deal represents Infracapital's second investment in Finland and Infracapital Greenfield Partners Fund I LP's first project in the Nordics.
Infracapital is the infrastructure equity investment arm of M&G Prudential, the European savings and investments business of Prudential PLC. The company was advised by SEB Corporate Finance and Dittmar & Indrenius Attorneys.