HgCapital Leads Swedish Wind Market with 140 MW Power Generation

HgCapital, a leading investment company in the European private equity market, has declared the purchase of a 44 MW wind farm in Malå, Västerbotten, Sweden.

The Ytterberg wind project will be developed by Nordisk Vindkraft AB an auxiliary company of Renewable Energy Systems (RES) with 22 Vestas V-90 2 MW wind turbines. The construction of the project has already commenced and is expected to become operational by the year 2012.

Arne Lorenzen, who leads Nordisk Vindkraft as its CEO, said his company was happy with the sale of Ytterberg wind farm. He added that the 44 MW wind farm is considered to be an important factor in the Swedish wind energy production sector. He appreciated the investment efforts of financial sector in renewal energy markets especially in wind energy which has proved to be practicable and easy to implement. He expressed his happiness about the selection of his company for the EPC contract and his desire to work along with HgCapital and Vestas for the early and successful commissioning of the project.

Jens Thomassen, of HgCapital, said with the 100% take over of the Ytterberg wind farm, his company is trying to establish its leadership in the wind power generation market of Sweden with a total wind generation capacity of 140 MW either fully in operation or partly under construction. He has expressed his confidence in taking forward the experience and relationship acquired through the business with Nordisk Vindkraft and Vestas.