Renewable Power Capital secures refinancing for Klevberget wind farm in Sweden
Author: PPD Team Date: December 3, 2024
Renewable Power Capital (RPC) has closed a €115 million long-term refinancing package for its 146 MW Klevberget onshore wind farm in Västernorrland, Sweden.
The refinancing, facilitated by the Nordic Investment Bank (NIB) and Danske Bank, replaces a short-term construction bridge loan, establishing a stable capital structure for RPC’s projects.
The Klevberget wind farm, consisting of 24 turbines, began operations in December 2023 and marked RPC’s entry into the Swedish market when acquired from OX2 in 2021. This transaction follows RPC’s 553 MW High Coast portfolio financing completed earlier this year.
Danske Bank served as the hedging bank, alongside Nomura, while Augusta & Co acted as RPC’s financial advisor. Legal counsel for RPC was provided by HSF and MSA, with CMS, CMS Wistrand, EY, Wood, and WTW advising the lenders on legal, tax, technical, and insurance aspects.
The wind farm operates under a ten-year power purchase agreement with Faurecia, part of the Forvia group, ensuring a significant share of its output is secured for Swedish households.