Danish pension fund Sampension has agreed to buy 50% of an onshore wind project nearing completion in Greece from Danish renewable energy developer European Energy.
The two parties to the deal announced the DKK286bn (€38.3bn) pension fund would buy half of the Tsoukes Sarres wind farm, which has an installed capacity of 27MW and consists of six onshore wind turbines.
The wind project, which will supply renewable energy to the Greek grid, is expected to be completed in the first half of this year, with construction having started in September 2024.
A spokesman for Sampension told IPE Real Assets the parties to the deal had agreed not to disclose the price.
Torbjørn Lange, head of real estate and infrastructure at Sampension, said: “Investments in renewable energy play a central role in Sampension’s strategy to deliver stable, long-term returns to our pension customers while supporting the green transition.”
Sampension said the transaction built on its existing cooperation with European Energy, which included a wide range of joint investments in renewable energy projects in Europe.
Lange said: “With the Tsoukes Sarres wind farm, we are strengthening our exposure to onshore wind and increasing the geographical diversification of our European renewable energy portfolio.”
Jens-Peter Zink, deputy chief executive officer of European Energy said: “By freeing up capital from projects like Tsoukes Sarres, we can continue to expand our pipeline of wind, solar and hybrid projects.”
European Energy said it had a large portfolio of projects in Greece within renewable energy, including onshore wind and solar parks in particular.
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