Enlight Renewable Energy has acquired a controlling stake in the 372-megawatt Bjornberget wind power generation project in Sweden, one of the largest wind projects in Europe.
The €445 million ($526 million) project will be developed by RES, one of the largest renewable energy companies in the world, which has obtained the main permits for construction. Work is scheduled to begin immediately and will reach commercial operations in 2023.
Under the deal, Enlight will take ownership of a stake of up to 61 percent; the Prime Green Energy Investment Fund (PGEIF), part of the Prime Capital group, which specializes in investments in wind energy in the Nordic market, will own the remaining shares. Enlight’s expected share is €130 million – €140 million ($153 million – $165 million), assuming debt financing of 45–50 percent.
In addition, Enlight will be allocated a share of about 20 percent in the PGEIF fund and will invest up to €50 million ($59 million)
