Funds managed by Eiffel Investment have created a partnership with Landinfra Energy to develop €1.5bn worth of renewable energy projects of up to 1800MW in Sweden.
The partnership involves Eiffel Infrastructure Vertes and Eiffel Transition Infrastructure investing €30m to acquire a 50% interest in the projects’ portfolio from Landinfra, which will retain the remaining 50% stake in the portfolio comprising over 1350MW solar power projects with a co-located energy storage facility and 300MW wind power with co-located energy storage as well as 140MW standalone energy storage projects.
The projects are all under development, with the first ones potentially ready for construction next year if permits are granted.
Marcus Landelin, CEO and co-founder of Landinfra, said: “Eiffel is a leading asset manager in the European market, with strong experience from development partnerships and funding, and jointly we will bring the necessary capabilities and financial strength to add new and much needed sustainable-energy production to SE3 and SE4.
”This partnership is in line with Landinfra’s strategy to enable investors to enter renewable-energy projects already at the development stage.”
Pierre-Antoine Machelon, head of infrastructure at Eiffel Investment, said: ”This new transaction will accelerate the deployment of additional renewable-energy capacity in Sweden by bringing much-needed equity in the development phase of the projects and leveraging Landinfra’s strong experience of renewables development.”
To read the latest IPE Real Assets magazine click here.
