Hermes Infrastructure and CGN Europe invest in Swedish wind farms

Hermes Infrastructure and CGN Europe Energy (CGNEE) have partnered to acquire an 813MW portfolio of five Swedish onshore wind farms from Aquila Capital.

Hermes Infrastructure’s Fund II will take an initial 20% stake in the portfolio and CGNEE has taken control of the remaining 80%.

Financial details were undisclosed.

Aquila Capital will provide asset management services on the portfolio through a management services agreement.

The portfolio comprises two operational onshore wind farms with an aggregate capacity of 216MW and three onshore wind projects in late-stage construction with an aggregate capacity of 597MW, all located in Sweden.

Hermes Infrastructure said completion of the two operational wind farms occurred on 16 September and the remaining three are due to complete as they commence operations, expected by the first quarter of next year.

Peter Hofbauer, head of infrastructure, Hermes GPE, said: “We are very pleased to announce this transaction for a high-quality portfolio of wind farms in Sweden in conjunction with our strategic partner, CGNEE.

“Once fully operational, the portfolio will increase renewable-energy generation capacity already owned and managed by Hermes Infrastructure on behalf of a range of UK and international institutional investors to more than 1 gigawatt.”

Susanne Wermter, head of energy and infrastructure EMEA at Aquila Capital, said: “Now we are looking forward to a successful cooperation with the consortium through our management service agreement.

”Furthermore Aquila Capital continues building its renewable exposure in the Nordics with targeting another 1 GW acquisitions in 2019 from which more than 700MW have already been signed.”

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