EnergyWatch

Swiss and German investors buy Danish wind farms

Both Eurowind and European Energy are divesting from their Vestas-equipped wind farms, which entered operation shortly before the former subsidy scheme's expiry. The Danish market remains attractive, one buyer says.

Photo: Eurowind Energy

Swiss investment fund SUSI Partners has purchased Danish wind farm Grønkær in Northern Jutland for an undisclosed price from domestic project developer Eurowind Energy, the later informs in a statement.

The facility consists of five Vestas V126-3.45 MW wind turbine, which have been upgraded to 3.6 MW per unit. Only four of these turbines are part of the agreement, as one is owned by local residents. Commissioned in January 2018, the facility is among the last wind farms to qualify for the now expired subsidy scheme.

Grønkær is not the only Danish wind farm to attract SUSI's attention. In December, Danish developer European Energy announced that it had sold seven turbines from its Nøjsomheds Odde installation. This sale also entailed the same Vestas model under the same subsidy scheme. The latter facility was commissioned the previous February – the same month as the former support scheme expired.

European Energy also revealed on Friday that it had closed the deal with German investor Aquila Capital for five out of six wind turbines of the model V126-3.6 MW from the Danish wind farm Holmen II, which entered operation at roughly the same time as Nøjsomheds Odde.

Even insofar as there is an increasingly limited supply of these wind farms, Eurowind Energy still banks on the Swiss investor's continued interest.

"We expect this sale to be the first in a long line of business opportunities between SUSI Partners and Eurowind Energy – with respect to the sale of wind parks as well as asset management in and beyond Denmark," writes Eurowind Energy Chief Executive Jens Rasmussen in the statement.

"We remain confident of the attractiveness of the Danish renewables market based on its attractive resource and the deep expertise of its developers and are looking to build our presence there further. We appreciate working with Eurowind Energy and see great potential for further cooperation in the future," says SUSI Chief Investment Officer Marco can Daele.

Aside from developing and installing wind farms, Eurowind also manages more than 850 MW of domestic and international wind capacity. The developer merged with Danish utility Eniig last year.

English Edit: Daniel Frank Christensen

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