The KGAL Group has successfully divested a significant onshore wind portfolio in Northern Europe. The transaction involved three operational wind farms with a total output of 73 megawatts. The buyer is Enordic Evergreen, the Nordic Independent Power Producer (IPP) platform of the Ardian Clean Energy Evergreen Fund. This sale represents the successful completion of an investment cycle for KGAL, which developed the portfolio from a single mandate for a pension fund.
The divested portfolio comprises three established wind farms. One wind farm, Silovuori, is located in Northern Finland and has a capacity of 26 megawatts. The other two facilities, Anneberg with 11 megawatts and Sötterfällan with 36 megawatts, are located in Southern Sweden. KGAL strategically acquired these projects during their respective construction phases: Silovuori in 2015, and Anneberg and Sötterfällan at the end of 2017.
Comprehensive Asset Management and Development Expertise
Following the acquisition, KGAL oversaw the completion of the wind farms up to their grid connection. Furthermore, the company was responsible for operational asset management, which included the strategic marketing of the electricity generated. This comprehensive support, from acquisition through the construction phase to operational management and marketing, underscores KGAL's expertise in the field of renewable energies.
Stefan Schachner, Portfolio Manager Infrastructure at KGAL, highlighted the decisive factors for the investment's success. He emphasised that the high quality of the three wind farms, KGAL's many years of operational experience, and cooperation with local partners were key success factors. Mr Schachner also explained that the sale to Enordic Evergreen marks the consistent implementation of the long-term investment strategy together with the investor, thereby successfully concluding the investment.
Advisory Services for the Transaction
KGAL was supported by several renowned advisors during the execution of this transaction. M&A advisory was provided by Danske Bank. Legal advice at an international level was handled by the law firm Vinge for the Swedish part of the transaction and Dittmar & Indrenius for the Finnish aspects. This collaboration ensured a structured and legally sound processing of the sale of the Nordic wind energy portfolio.
