SUSI Partners has signed an agreement to sell an 89 MW Danish onshore wind portfolio to local utility NRGi Renewables. The transaction marks the final exit of the SUSI Renewable Energy Fund II (SREF II), which was launched in 2014 and will be SUSI’s second European renewable energy fund to complete the full fund lifecycle.
The 89 MW Danish portfolio consists of 25 turbines spread across four locations with a combined average annual power production of 275 GWh. This is enough to cover the electricity consumption of approximately 60 000 Danish households. SUSI had acquired the Danish assets through four separate transactions between December 2018 – June 2019. After seven years of diligent asset management, the portfolio will now be handed over to NRGi Renewables, one of Denmark’s largest producers of renewable energy.
SUSI had launched SREF II in 2014 and built a portfolio of renewable energy assets with a combined generation capacity of 662 MW and an annual production of approximately 2 TWh, which is enough to cover the electricity consumption of approximately 500 000 European households. Investments in onshore wind and solar assets were spread across 11 countries to achieve a steady output and a consistent revenue base on a portfolio level despite the inherent variability of renewable energy production.
Projects were typically acquired at ready-to-build stage and built up a robust production track record supported by SUSI’s active oversight. Various value-adding initiatives – including efforts to extend asset lives and explore hybridisation – further contributed to a high-value European renewable energy portfolio.
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