German fund manager Aquila Capital has purchased a 64.8MW wind farm in Sweden, its second deal in the country in little more than a month.
The firm will acquire the Högkölen facility, praised by Aquila for its “outstanding” wind conditions in “an unusually favourable wind location”, from Swedish developer OX2. The company itself purchased the project – set to be operational in 2018 – from local peer Samkraft in 2014.
The transaction follows Aquila’s agreement with OX2 last month to buy the 148MW Lehtirova wind farm, marking its entry into the Swedish market. Over the past two years, Aquila has built up a wind portfolio of about 400MW across Scandinavian countries.
“Scandinavia is a highly attractive location for onshore wind investments, offering great conditions for the realisation of large scale projects for institutional investors with the required market know-how,” said Susanne Wermter, head of the special infrastructure team at Aquila.
Active in the broader renewables market, the firm is gearing up for a €300 million first close for its debut European hydropower fund by the end of the year. The vehicle is looking to invest in five to 10 hydro generating portfolios worth around €1 billion.