Luxcara obtains long-term financing for Egersund onshore wind project in Norway (111.2 MW)

Luxcara, one of Europe's leading asset managers for renewable energy investments, has reached financial close for the Norwegian Egersund onshore wind farm. A banking syndicate consisting of Skandinaviska Enskilda Banken AB (SEB) and KfW Ipex Bank GmbH is providing the long-term financing.

“We are pleased to be well on schedule with Egersund. In concluding financing, we have successfully completed another important stage. Our many years of experience and our extensive network have made a significant contribution to rapidly advancing this project for our investors. When the first turbines are commissioned in June 2017, the wind farm will already start feeding electricity into the grid and delivering a return on investment for our investors,” says Dr Alexandra von Bernstorff, Managing Partner of Luxcara.

Luxcara acquired the project Egersund which is located on the southwest coast of Nor-way in December 2015. A total of 33 wind turbines with a capacity of 111.2 megawatts are to be built there and will gradually commence operations. In November 2016, Luxcara concluded a long-term power purchase agreement for the project with Swiss utility Axpo Nordic AS. Egersund was acquired for the portfolio of the sub-fund “Solar and Wind”, which was launched in September 2015 under the partnership of FLAVEO Infrastructure Europe SCS SICAV-FIS. The fund is accessible exclusively to institutional investors, the portfolio currently comprises projects with a total capacity of around 265 megawatts."

About Luxcara

Luxcara is an independent asset manager, specialising in renewable energy investments for institutional investors. The owner-managed company was founded in 2009 by the sole shareholders Dr Alexandra von Bernstorff and Kathrin Oechtering. Luxcara acquires, structures, finances and operates long-term renewable energy portfolios and manages an investment volume of close to EUR 2.1 billion. Luxcara currently manages a portfolio comprising photovoltaic and wind power plants in Germany, France, Italy, Great Britain and Scandinavia with a total capacity of approx. 600 MW. With this extensive track record, Luxcara is one of the most experienced asset managers for renewable energy investments.

Press contact:

Lars Haugwitz
GFD - Gesellschaft für Finanzkommunikation mbH
Telephone: +49 69 97 12 47 34
Email: haugwitz@gfd-finanzkommunikation.de