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Mirova acquires RES Swedish wind farm

Published by
Energy Global,

RES, an independent renewable energy company, has announced the sale of Rödene Wind Farm to Mirova, an asset management company dedicated to sustainable investing and an affiliate of Natixis Investment Managers. The transaction includes an agreement to build the wind farm with an engineer, procure, construct (EPC) contract.

Rödene Wind Farm is located outside Alingsås in Västra Götaland, Sweden. The project consists of 13 turbines with a total installed capacity of 85.8 MW, the equivalent of powering 40 000 homes in Sweden, resulting in a saving of 230 000 tpy of CO2 equivalent.

This is the third project RES has sold to Mirova, following the Våsberget wind project in 2015 and the Vardafjellet project in 2018 and it illustrates the long term collaboration in place between them. This is the first project in Sweden for Mirova-Eurofideme 4, the energy transition fund which closed in November 2019. The project has been purchased on a full equity basis and is a valuable diversification to the Fund's existing €600 million and a portfolio of renewable energy projects in Europe.

RES has worked closely with the community and local authorities during the development of this project which will sell its electricity to a large residential area located nearby. Construction which will start in August 2020 has been carefully planned not to interrupt the breeding season of the local osprey bird population. Energisation and handover of the project is planned for April 2022. After managing the construction, RES will supply asset management services for the project, focusing on optimising operational yields for Mirova and their shareholders.

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