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Jadraas Wind: Danish debut
30 September 2011
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[platina]
[Ownpower Projects Europe]
[Bergviks Skog]
[arise windpower]
[ekf]
Arise Windpower and Platina Partners have closed the acquisition of, and construction financing for, the 203MW SKr3.1 billion ($450 million or Eu338 million) Jadraas wind project in Sweden. The project is one of the largest single-phase onshore wind financings in the Nordic region, and certainly the largest for an independent developer. The financing marks the launch of a DKr10 billion ($1.8 billion) commitment from PensionDanmark, a life insurance company owned by labour unions and employers organisations, to fund export finance debt covered by Danish export credit agency EKF.
Arise was founded in 2006, has 138MW of capacity in operation, and its shareholders include AP3, Nordea’s fund management arm, Statkraft, Danish pension fund ATP, and Swedish pension fund Alecta. It listed in March 2010, and has financed its slate of smaller wind projects with loans from single arrangers. Nordea funded the 16MW Idhult project in Mönsterås, Sweden, while DnB NOR funded the...
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