Aquila teams up for Swedish wind deal

The Hamburg-based alternative investment firm and Swiss utility ewz have together completed a wind transaction in Sweden.

Aquila Capital, the Hamburg-based alternative assets manager, and Swiss electric utility ewz have joined forces to purchase 29 wind turbines in the south of Sweden from Eolus Vind, a Swedish wind power developer.

The wind turbines are located in four wind parks and have an installed capacity of around 60 megawatts (MW). ewz (Deutschland) will acquire 51 percent in the Swedish operating company with Aquila taking 49 percent. The deal will take Aquila’s wind portfolio up to 360MW.

US technology giant Google will purchase the entire electricity produced by the four wind farms under a long-term power purchase agreement (PPA). Eolus will provide technical and administrative services to the wind farms.

“This transaction underlines the growing popularity of the partnership model between utility companies and specialist financial investors, which harnesses their joint financial, regulatory and technical expertise. This is a proving to be a highly efficient solution to financing infrastructure projects,” said Roman Rosslenbroich, co-founder and chief executive officer at Aquila, in a statement.

Founded in 2001, Aquila Capital manages real assets, financial and private markets strategies and is part of Aquila Group, which manages assets of more than €7.6 billion on behalf of a global investor base (as at September 2014).

The latest transaction comes shortly after Aquila acquired Norsk Gronnkraft, an operator of 33 small-scale hydropower plants in central and southern Norway, from a group of Norwegian owners.