European infrastructure fund manager Conquest has entered the Finnish renewable power market with the acquisition of a 182MW onshore wind portfolio and the implementation of a broader strategic partnership towards further extensions.
Conquest plans to deploy €1bn in the sector over the next four years.
The manager said its Conquest Infrastructure SLP – Sustainable 2 fund has bought two wind farms being developed by Winda Energy in a deal that includes the acquistion of an additional 500MW of wind projects. Conquest said the transaction represents an expected phased total investment of approximately €1bn, to be gradually deployed between 2024 and 2028.
Frederic Palanque, founder and MD of Conquest said: “Conquest is thrilled to enter, in partnership with Winda Energy, in sustainable real assets in a market recognised for its robust renewable energy fundamentals and its ambitious net zero roadmap.”
Tuomas Hooli, CEO of Winda Energy, said: “We are happy to cooperate with Conquest, a dynamic and reliable partner on our growth journey. The transaction secures the completion of some of our flagship projects over the next years, enabling us to extend our contribution to Finland’s green energy transition.”
Michal Prause, an associate partner at Winda Energy’s majority shareholder BHM Renewables, said: “We are extremely pleased with the outcome of the transaction, reflecting the deep development skills, which our affiliate Winda has been demonstrating on the Finnish renewable power market over the years.
“We are looking forward to the strategic partnership with the highly professional asset management and investment teams of Conquest.”
To read the latest IPE Real Assets magazine click here.
No comments yet