Octopus announces €68m Swedish wind acquisition

The new wind farm will be in full operation by mid-2021

Octopus Renewables Infrastructure Trust has announced its first investment, the acquisition of the 48MW Ljungbyholm wind farm in Sweden.

The construction-ready project has been developed by OX2 for a cash consideration, including future construction payments of €68 million (£59.5m).

The wind farm, consisting of 12 turbines, is expected to have an operating life of 30 years.

The company expects construction of the project, which is located in the Kalmar municipality in South Sweden, to begin shortly and complete in mid-2021.

Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, said: “I am delighted to announce our first investment, into a construction ready wind project in Sweden. This investment marks our first step towards building a diversified portfolio of renewable energy assets aimed at reducing the impacts of climate change.”

Chris Gaydon, Investment Director at Octopus Renewables, commented: “Scandinavia is an attractive market due to the possibility of combining high levels of wind resource with the latest wind turbine technology, and we are delighted to have had the opportunity to acquire this asset in southern Sweden.”

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