– Renewable Power Capital closed a €555 million financing deal for its 553 MW onshore wind portfolio in Sweden
– The financing was provided by a group of lenders, including CIBC, Danske Bank, Export Development Canada, NatWest, and NordLB
– The portfolio consists of four wind farms in Sweden and has secured power purchase agreements with several companies
Renewable Power Capital (RPC) secured a long-term €555 million financing for its 553 MW onshore wind portfolio in Sweden. This is one of the largest facilities for a greenfield onshore wind portfolio in Europe and was provided by experienced lenders such as CIBC, Danske Bank, Export Development Canada, NatWest, and NordLB. The portfolio consists of four wind farms in Kramfors and Sollefteå municipalities, set to provide green power to 182,000 households upon completion.
RPC recently signed a 10-year power purchase agreement (PPA) with Procter & Gamble for the Sörlidberget wind farm, a part of the Swedish onshore wind cluster. This agreement is one of four PPAs signed for the portfolio, with almost all renewable energy generated being contracted. Additionally, RPC has ordered 80 Nordex turbines for the cluster, with operations expected to start between the fourth quarter of 2025 and the first quarter of 2026.
Sylvain Delion, Managing Director at RPC, expressed excitement for closing the long-term financing, highlighting the company’s commitment to achieving long-term stable returns through renewable investments. Augusta & Co also praised RPC for securing a substantial financing package, showcasing their strength as a renewable energy investor. The Spring 2024 issue of Energy Global Magazine covers these developments and more in the renewable energy industry.