Vaasa, Finland – 13. October 2022 | The first week of October 2022 marked an important milestone in the history of SVEVIND’s “Project Sandbacka”. The 90+ megawatt (MW) ready-to-build wind farm has been sold to Prime Green Energy Infrastructure Fund (“PGEIF”), managed by German fund manager Prime Capital AG. The construction works are expected to start in 2023 with completion of the wind farm planned in 2024.

Located across two municipalities 50 miles northeast of the Finnish regional capital city Vaasa, Project Sandbacka will produce over 250 GWh annually. 14 wind turbines with a tip height of 200 meters will provide a capacity of up to 6.6 MW per unit. Long-term studies supervised by Deutsche WindGuard confirmed that the site- and wind conditions are highly suitable for renewable power generation. The project offers significant ecological and economic potential due to the easily accessible terrain and the minimal impact on local residents. The sourcing, procurement and transport plan allows for a fast and reliable construction of all 14 wind turbines in 2024.

Originally initiated by landowners, Project Sandbacka will have a sustainable and lasting effect on the regional energy market of the Ostrobothnia region and adjacent administrative regions. Supported by society, government and administration green energy projects like Project Sandbacka will boost the energy independence of Finland. With its ready-to-build status, the wind farm will be part of the short-term solution for the current energy supply challenges affecting Finland and Europe.

SVEVIND and its co-developer AB Vindkraft i Skog are proud to be able to contribute to Finland’s energy transition with the planning and development of Project Sandbacka and is glad for an efficient and highly productive cooperation with Prime Capital.

“We invested a lot of effort into the project development and are very happy that it will now be realized”, said CEO Fredrik Bäcklund during the signing of the contract. “It has been a pleasure working with Prime Capital”. His partner Christer Nilsson (CEO Vindkraft i Skog AB) added: “We feel confident that we have selected the right company to realize Project Sandbacka together with the landowners and with full respect to the local benefits that a wind site can offer both for entrepreneurs and for the green electricity supply in the area.”

”We are pleased to announce that with this transaction we have realized our 10th and final PGEIF investment and have now fully deployed the committed capital of the fund. Project Sandbacka fits perfectly well in the fund’s strategy with regard to size, technology and geography. In addition, Sandbacka offers the opportunity to integrate it in our recently announced Kristinestad Energy Cluster as a source of green energy. Working with a highly professional developer such as SVEVIND has been a great experience,” says Dr Mathias Bimberg, Head of Infrastructure at Prime Capital AG.

About SVEVIND AB

SVEVIND AB is a privately owned renewable energy project developer based in Piteå, Sweden, and is part of the SVEVIND Energy Group. The company has successfully developed more than [2,000] MW of wind generation projects in Sweden and Finland over the past 20 years, notably including Europe’s largest and most powerful wind farm – MARKBYGDEN 1101. Its multi-gigawatt development pipeline is focused on wind [and green hydrogen] projects in northern Sweden

About SVEVIND Energy Group:

The SVEVIND Energy Group Is a privately owned company group that develops large-scale renewable energy projects. Based in Dresden, Germany with offices in Piteå (Sweden), Almaty, and Aqtau (Kazakhstan) the company group is pioneering work in the field of renewable energy involving planning and implementing large-scale energy projects with national and international significance. For the future, SVEVIND works on its gigawatt project pipelines for renewable energy and green hydrogen in Sweden as well as in Kazakhstan.

About Prime Capital:

Prime Capital AG is an independent asset management firm and financial services provider, owned by management and employees. The company specializes in Alternative Investments, in particular in Absolute Return, Infrastructure, including Renewable Energy and Private Debt. Furthermore, the company offers Access Solutions as well as Investment Advisory & Solutions. Prime Capital was founded in 2006, currently employs around 120 people in Frankfurt and Luxembourg and is regulated by BaFin and CSSF.

As of June 2022, Prime Capital has approximately EUR 4.3 bn Assets under Management as well as EUR 7.5 bn Assets under Administration.

Photo
Project area east of Solbo/Finland
©Jens Lax