The KGAL Group has sold an onshore wind portfolio with a total capacity of 73 MW to Enordic Evergreen, the Nordic IPP platform of the Ardian Clean Energy Evergreen Fund, under a single mandate on behalf of a pension fund. The transaction comprises three operational wind farms: Silovuori in northern Finland (26 MW), and Anneberg (11 MW) and Sötterfällan (36 MW) in southern Sweden.
KGAL acquired Silovuori in 2015 and Anneberg and Sötterfällan at the end of 2017 during the construction phase as part of the single mandate. KGAL subsequently oversaw the completion of the wind farms through to grid connection and was responsible for operational asset management, including the marketing strategy for the electricity generated. With this sale, KGAL successfully concludes the investment cycle for the three wind farms.
“The high quality of the three wind farms, KGAL’s many years of operational experience and excellent local partners were the key factors behind the investment’s success,” says Stefan Schachner, Infrastructure Portfolio Manager at KGAL. “With the sale to Enordic Evergreen, we are, together with the investor, consistently implementing our long-term investment strategy and successfully concluding the investment.”
KGAL was advised on the transaction by Danske Bank (M&A advisory) and the law firms Vinge (Sweden) and Dittmar & Indrenius (Finland).
