Vasa Vind and APG Secure Portfolio Refinancing From Rabobank

Source: www.gulfoilandgas.com 4/9/2024, Location: Europe

Vasa Vind and APG have achieved financial close on the latest project to come through their greenfield development pipeline. The 36MW Fröskog project in Åmål municipality, Sweden, is the latest addition to Vasa Vind’s growing portfolio that now stands at 530MW of onshore wind, a 20MW BESS and a development pipeline of over 1.5GW of onshore wind, solar and BESS.

Vasa Vind was established in 2013 by Asper Investment Management and was acquired by funds managed by APG in 2021. Vasa Vind is one of the largest independent power producers in Sweden with a diversified greenfield development pipeline across the region.

In parallel with financial close of Fröskog, Vasa Vind also secured a €109m portfolio refinancing with Rabobank who is aligned with Vasa Vind’s ambition to continue developing and building a large-scale portfolio of sustainable power generation and flexibility assets across the Nordic region.

Mattias Sjöberg, CEO of Vasa Vind, said “Vasa Vind is committed to contribute to society by delivering substantial volumes of renewable energy and supporting the green industrial transformation. Partnering with institutional investors APG, Asper and now Rabobank is key to delivering on this ambition and we’re proud to have delivered another new project to financial close with their support.”

Robert Szatkowski, Senior Portfolio Manager of APG, said “On behalf of our pension fund clients, we are delighted to expand our portfolio of sustainable power generation assets with this high-quality project that was entirely developed by Vasa Vind. We are also delighted to have a found a partner in Rabobank who is aligned with our ambition to grow the platform.”

Allister Sykes, Director of Asper, said “Asper is privileged to have been working with Vasa Vind and APG for many years to build this fantastic platform of sustainable energy assets and the highly professional Vasa Vind team that has made it possible. We’re extremely happy to see another greenfield project successfully reach financial close after several years supporting its’ careful development work and investment.”

Vasa Vind has been advised by Roschier and Foyen as Legal Advisors.


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