RES and Prime Capital AG reach agreement for Lycksele project portfolio
Published by Abi Larkin,
Editorial Assistant
Energy Global,
RES has announced it has reached agreement for the sale of its Lycksele portfolio of projects in Sweden. The Lycksele portfolio, made up of three wind energy projects totalling 290 MW, has been acquired by Prime Capital AG, and is expected to enter commercial operation in 2025.
Located in Västerbotten County, Sweden, RES started the development of Lycksele in 2007, and the portfolio is made up of 45 turbines across three projects: Fjällberg, Hornmyran, and Vinliden. Together the projects will contribute approximately 1 TWh/y of new green energy to the region and the European market. Part of the green electricity is planned to be used for a green Power-to-X project in the region.
The deal also sees RES support Prime Capital AG through a development services agreement to prepare the portfolio ready for construction in 2023, and once operational, RES will provide asset management services to the portfolio. RES is currently constructing Björnberget and Gubbaberget, both developed by RES and acquired by Prime Capital AG in 2020. In addition, RES provides asset management services to a further project in Prime Capital AG’s portfolio – Stavro.
Matilda Afzelius, CEO – Nordics, RES, commented: “We are delighted to partner with Prime Capital AG again as they expand their investment in the Nordic and look forward to supporting them to bring the Lycksele portfolio online.
“We value working with a partner who shares our vision of the future of the Swedish energy market, and a focus on creating synergies between the renewable energy sector and industry to provide greater value to the economy.”
Dr. Mathias Bimberg, Prime Capital AG, stated: “Lycksele is already the third joint project with RES and a further acknowledgement of the good and trusted partnership between the parties. It is an important part of our strategy to invest in both, the production of hydrogen/e-methane and the underlying green electricity production capacity, and is needed more than ever to assure sustainable energy security in Sweden and Europe.”
RES is investing heavily in the Swedish energy market and has a development portfolio of 1 GW. It is focused on creating opportunities across wind, solar, energy storage, and green hydrogen by working closely with municipalities and partners to drive value into local economies in line with its vision to create a future with zero emissions.
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Read the article online at: https://www.energyglobal.com/wind/27092022/res-and-prime-capital-ag-reach-agreement-for-lycksele-project-portfolio/
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