Sweden

Sweden

BlackRock fund acquires Swedish project

SWEDEN: A fund managed by asset manager BlackRock has agreed to acquire a 36.9MW wind farm in central Sweden.

Enviksberget will consist of nine of Siemens Gamesa’s SWT-DD-142 turbines with power ratings of 4.1MW
Enviksberget will consist of nine of Siemens Gamesa’s SWT-DD-142 turbines with power ratings of 4.1MW

Swedish developer Arise exercised its option right to acquire the nine-turbine Enviksberget site from compatriots Dala Vind.

It has subsequently agreed to sell the project in Dalarna county to a fund managed by BlackRock.

Arise has developed, designed, procured suppliers and sourced investment for the site. Following the sale to BlackRock, Arise will be responsible for its construction and management once it is operational.

The Swedish developer now manages about 330MW of wind farms in Sweden and Norway for BlackRock, it stated.

CEO Daniel Johansson added: "This is a transaction fully in line with our strategy to create value from development, construction and asset management services."

Arise has previously developed two other Swedish wind farms now owned by BlackRock: the 46.2MW Brotorp site in Östergötland county and the 115MW Svartnäs site in Dalarna county.

BlackRock has invested in more than 600MW of wind projects across Sweden and Norway. It also owns stakes in wind farms in the US and the UK, according to Windpower Intelligence, the research and data division of Windpower Monthly.

Sverker Åkerblom, portfolio manager in the renewable power investment team at BlackRock Real Assets, said: "We view the Swedish renewables market, and the Nordic region more widely, as an attractive market for wind projects."

Siemens Gamesa will provide nine SWT-DD-142 turbines with power ratings of 4.1MW for the Enviksberget wind farm.

Construction is due to start in September 2019 and commissioning is expected in late 2019.

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