€480m fund to acquire 49% stake in Fred. Olsen Renewables portfolio

Fred. Olsen Renewables has entered into agreements regarding €480m of equity financing for three existing wind farms in Norway and Sweden and future onshore wind farms in the UK and Sweden. It will retain 51% stakes in the assets, with the other 49% set to be acquired by an investment fund. The €480m fund will see KLP, MEAG and Keppel each committing €160m. Of 258MW combined capacity, the three existing wind farms are the 71.3MW Lista, 79.2MW Fäbodliden and 107.5MW Högaliden.