- 15-year power purchase agreement with aluminium smelter of Alcoa Norway ANS already in place
- Construction to begin in autumn 2019 and be finalized by late 2021
Hamburg, 12 July 2019 – The Hamburg-based alternative investment specialist Aquila Capital has expanded its Nordic wind energy portfolio with a 400 MW development in Norway, which they acquired for an institutional investor. The project is located in Mosjoen in the municipality Vefsn in Northern Norway. Construction on the onshore wind park is expected to begin in autumn 2019 and to be finalized by the fourth quarter of 2021. Once operational the Øyfjellet windfarm will be among the biggest windfarms in Europa in terms of capacity and output. The bulk of the energy produced will be delivered to a nearby aluminium smelter managed by Alcoa Norway ANS who have already signed a 15-year power purchase agreement.
Roman Rosslenbroich, Co-Founder and CEO of Aquila Capital, comments: “We are truly delighted to become the sponsor of Project Øyfjellet on behalf of our client and we are looking forward to continuing our good cooperation with Eolus on this Nordic landmark project. Project Øyfjellet is not only impressive by its sheer magnitude and technical characteristics, it also stands exemplary for what it will take to create a sustainable future for the generations to come: Visionary developers like Eolus, dedicated investors like us and responsibly acting industry players like Alcoa – and of course supportive governments and authorities.”
Per Witalisson, CEO of Eolus Vind AB, adds: “As with previous projects, we are proud to have complied with the highest environmental, social and governmental standards for the new wind park in Vefsn. For this major development, it was important to us to work with reputable and experienced partners such as Aquila Capital and Alcoa that have a strong presence in the Norwegian market. It is truly a win-win-win situation.”
The new project complements Aquila Capital’s already sizeable Nordic portfolio of wind energy of 1.090 MW. In Norway – via its Oslo based Nordic office – Aquila Capital already manages Europe’s biggest independent operator of small hydro power plants, Småkraft AS, as well as the 150 MW windfarm Midtfjellet Vindkraft AS.
Find out more about the investment strategy here.
About Aquila Capital:
Aquila Group is an experienced and long-term investor in essential, real asset investments. Founded in 2001 by Dr. Dieter Rentsch and Roman Rosslenbroich, the Group currently manages USD 9.3 billion for its clients worldwide (as at 31.03.2019).
The business centres on secular and sustainable trends in renewable energy, social housing, green logistics, infrastructure, timber and agriculture as well as niche financial market strategies. Dedicated specialist investment teams with entrepreneurial mindsets draw on their sector networks and experience to screen, develop, finance, manage and operate investments along the entire value chain.
Local, on-site management teams are central to the company’s operations, with 14 investment offices in 11 countries. Comprehensive operational capabilities, more than 300 employees at group level, intensive asset management and a passion for detail ensure asset and product performance as well as the timely deployment of capital.
Aquila Group believes in stringent corporate governance. With its two AIFMs in Luxembourg and Germany, it is subject to the highest European regulatory standards.
Embedded in its activities lies a passion for real assets and living ESG, better every day.
