Elo Mutual Pension Insurance has gained exposure to six Nordic wind farms, as one of the three investors in a fund managed by Credit Suisse Energy Infrastructure Partners (CSEIP).
CSEIP’s fund has purchased an 80 percent stake in six wind farms from Fortum in a deal valued at €250 million ($282 million). Following the deal, Elo will own about 20 percent of the group of wind farms, bringing its wind portfolio to a total of 11 farms. The other investors are European institutional investors.
The portfolio consists of Nygardsfjellet and Ånstadblaheia in Norway, Solberg in Sweden, and Kalax in Finland, which is currently under construction with an expected completion date at the end of 2020. The investors also are looking to acquire a stake in two more wind farms through the fund. One of these wind farms is being built in Sorfjord, Norway, and the other, Savar, will be built later in Sweden. Together, the wind farms have a total capacity of 500 megawatts.
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