REIF acquires 16 MW wind power asset from O2

2013-12-04

Germany based fund company Renewable Energy Infrastructure Fund (REIF) has signed an acquisition contract with O2 for eight turnkey wind turbines at Mässingberget in Dalarna, Sweden.

“This is our first wind power investment in Sweden. Mässingberget is attractive from an investor’s perspective because the good wind conditions make for a favorable yield in relation to a low level of risk. We chose to work with O2 because of its excellent track record in the Swedish wind power market,” says Ralph P. Seraphim, Managing Partner of REIF.

The anticipated average production for the eight wind turbines is 55 GWh per year, which corresponds to annual consumption of household electricity for slightly more than 12,000 households.

“We are seeing increasing interest in our Swedish projects from international investors. It is extremely positive that foreign capital is now flowing into Sweden as this benefits industrial growth, local development and our possibilities to export renewable electricity,” says Paul Stormoen, CEO of O2 Vindkompaniet.

REIF’s wind turbines will be part of a wind farm with a total of 11 wind turbines. The farm is at Mässingberget, which is located in the Municipality of Orsa, Dalarna County, Sweden. The preparatory work will commence immediately, since all of the relevant permits and planning permission have been granted. The start of operations and transfer to REIF are expected to occur at the beginning of 2015. Following this, O2 will continue to manage the wind farm commercially and technically under a separate agreement.

The turbine selected is a Vestas V100-2.0 MW, which has a rotor of 100 m and an output of 2.0 MW.

For more information, please contact:
Ralph P. Seraphim, Managing Director of Goodyields Capital, +49 89 244 14 9710,  seraphim@goodyields.com and
Paul Stormoen, CEO of O2 Vindkompaniet, +46 (0)70-671 18 18. paul.stormoen@ox2.com

About O2
O2 develops, builds, finances and manages wind farms. The company is a leader in large-scale onshore windpower in the Nordic region. Together with its partners and investors, O2 continuously drives development forward towards a sustainable future. The company’s head office is in Stockholm, Sweden. For more information, please visit http://www.ox2.com/en/

About REIF
REIF is a Fund investing in renewable energy infrastructure in Europe. REIF is managed by GCG Renewable Energy Management which belongs to Goodyields Capital GmbH based in Munich. Goodyields is a specialized investment firm focused on investments in energy infrastructure. Goodyields has been established in 2009 as the Private Market Investment arm of General Capital Group which invested $4.5bn since 2005 in its Public Market Investment business.

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