Fontavis, a Swiss Asset Manager for renewable energy and infrastructure investments, has signed a purchase agreement with OX2 for 33 MW wind power.
The agreement covers the Orrberget wind farm in Sweden, consisting of nine Nordex turbines. This is the second deal between the parties within a short space of time.
Orrberget wind farm in Ludvika municipality is estimated for completion in the autumn of 2019. OX2 will thereafter have a contract for technical and commercial management. The expected average production is approximately 96 GWh per year.
“The addition of Orrberget to the newly established “Fontavis SCS SICAV-RAIF – Renewables Infrastructure Fund Europe” allows us to strengthen our position in the Nordics and to achieve a critical size with regard debt financing as well as from a power offtake perspective”, says Marc Schürch, Director of Fontavis.
It is the third investment of the Fund and the Asset Manager is aiming to increase its exposure to renewables over the coming months.
“We are delighted to be doing business with Fontavis again in such a short period of time. The project will strengthen our market position in the Nordic region, where we are currently building seven wind farms, delivering a total of 750 MW”, says Paul Stormoen, Managing Director of OX2 Wind.
OX2 and Fontavis signed the purchase agreement for the 21.6 MW Stigshojden wind farm in Västernorrland, in mid-November.