Ardian infrastructure and Rabbalshede Kraft to supply google with clean energy from new wind farm in Sweden
Press release
Ardian infrastructure and Rabbalshede Kraft to supply google with clean energy from new wind farm in Sweden
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30 June 2016
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Infrastructure
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France, Paris
6 minutes de lecture
Ardian, the independent private investment company, and Rabbalshede Kraft, the Swedish independent green energy producer, have entered in a joint venture to build and operate a 76MW wind farm in Southern Sweden - one of the best areas for onshore wind in Europe. The wind farm has been developed by Rabbalshede Kraft. Ardian will hold a 75% stake and Rabbalshede Kraft a 25% stake.
Google has entered into a long-term Power Purchase Agreement for the entire production of the wind farm. This agreement is in line with Google’s goal of sourcing 100% of its power usage from renewable sources. Electricity certificates will also be sold forward.
Rabbalshede Kraft will supervise the construction with a commissioning anticipated in the last quarter of 2017. Infrastructure and grid connection will be undertaken respectively by Skanska and Ellevio. The site will be equipped with twenty-two V126 3.45 MW Vestas turbines with a target full-year production of 234 GWh. Rabbalshede Kraft will also be responsible for all technical and commercial activities of the wind farm once operational.
Both companies are well-established in the renewables sector. Ardian Infrastructure has reinforced its position as one of the leading independent market participants in the renewable power sector in Europe. It is currently invested in projects representing over 1 GW of installed capacity across wind, solar, hydraulic, biogas and biomass energies. Its latest investment was completed six months ago in a greenfield wind project in Norway. Rabbalshede Kraft is a leading developer and operator in wind power production and has been involved in the commissioning of 95 wind turbines to date. Rabbalshede Kraft is part of Manor Group, a leading sustainability investor active in energy and agriculture technologies in 15 geographies world-wide.
Mathias Burghardt, Member of the Executive Committee and Head of Ardian Infrastructure, said: “We are excited to partner with the experienced team of Rabbalshede Kraft for our first investment in Sweden. This investment will solidify our presence in Scandinavia and we are very pleased by this first of partnership with Google for renewable energy.”
Amir Sharifi, Director at Ardian Infrastructure, added: “Our goal is to develop a new industrial partnership with Rabbalshede Kraft which will benefit from our combined expertise. We count on this project to be one of the most efficient ones in the market as it is being built in a very low electricity price environment and in a good wind location.”
Francois Sterin, Director, Global Infrastructure at Google, said: “Google has been carbon-neutral since 2007 and we are committed to powering 100% of our operations with renewable energy sources. Today's announcement is Google’s 7th European wind power deal to date and reinforces our position as the world’s largest corporate renewable buyer.”
Lars Larsson, Rabbalshede Kraft COO, added: ”This project is core to our strategy of securing long term revenue for high quality wind projects. We look forward to delivering clean energy to Google and to entering into a partnership with Ardian, two outstanding corporates. We are convinced that this is a start for two long term relationships.”
Jean Baptiste Oldenhove, Managing Director of Manor Group complemented: “This is another important step in the development of Rabbalshede Kraft, and at the heart of Manor’s mission to transform industries towards sustainability and resource efficiency.”
ABOUT ARDIAN
Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$55bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world.
Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.
Ardian maintains a truly global network, with more than 430 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey and Luxembourg. The company offers its 490 investors a diversified choice of funds covering the full range of asset classes through Ardian Funds of Funds (comprising primary, early secondary and secondary activities), Ardian Private Debt, Ardian Direct Funds (comprising Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and customized mandate solutions with Ardian Mandates.
ABOUT RABBALSHEDE KRAFT
Rabbalshede Kraft AB (publ) plans and establishes proprietary land-based wind farms, in collaboration with other players or for divestment whereby the Company is able to offer operating services. Rabbalshede Kraft was formed in 2005 and currently manages 134 wind turbines of which 71 turbines, in the eight wind farms, are in-house.
The electricity produced from the Company’s wind farms in operation is sold in the open electricity market, Nord Pool. An extensive project portfolio comprises the basis for growth. The Company has about 250 turbines under procurement, application and planning phases. Follow the Company's progress at:
ABOUT MANOR GROUP
Manor is a long term investor in the field of natural resource efficiency. As a private industrial company, Manor provides long-term development capital to entrepreneurs and industrial projects.
Manor's objective is to operate from a select number of platform companies all geared towards a better and more efficient use of energy and natural resources.
Manor is active in clean energy in France, Sweden and Austria and in agriculture technologies in 15 geographies.
Investors/Partners
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Ardian
- Laurent Fayollas
- Simo Santavirta
- Amir Sharifi
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Rabbalshede Kraft
- Lars Larsson
- Peter Bjelkengren
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Manor Group
- Jean Baptiste Oldenhove
- Charles Lilford
- Rémi Christien
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Google
- Francois Sterin
- Marc Oman
- James Leeson
Due diligence and transaction advisors
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MAQS (legal)
- Mikael Kowal
- Wibeke Sorling
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Linklaters (Corporate)
- Bruno Derieux
- Benjamin Prevost
- Pierre Thomet
- Elisabet Lundgren
- Rasmus Kindlund
- Nicolas Gauzès
- Cristiana Musteanu
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Linklaters (Project)
- Samuel Bordeleau
- Nathanaël Caillard
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Linklaters (Tax)
- Edouard Chapellier
- Alexandra Mourlon
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Wigge (legal)
- Lisa Antman
- Anders Moren
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Sweco (technical, environmental and market)
- Frank Krönert
- Edström Per
- Stahle Fredrik
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EY (financial / tax)
- Arnaud de Giovanni
- Anne-Laure Drouet
- Michel Eriksson
- Henrik Lernfelt
- Carsten Kuhlmann
- Martin Norin
- Thomas Chardenal
- Johan Schult
- Joel Ottoson
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Kallista Energy (technical and legal)
- Frédéric Roche
- Arnaud Peyrin
Financing
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Swedbank
- Fredrik Gustavsson
- Camilla Nesvik