Luxcara, an asset management provider for renewable energy investments, has completed the Norwegian onshore wind farm “Egersund” with a total capacity of 111.2 Megawatts.
The project featuring 33 turbines was secured in December 2015 for a portfolio of institutional investors.
A power purchase agreement of 15 years was already signed in November 2016 and the financial close with long-term financing was finalized in March this year.
Built on a plot of more than seven square kilometers in size, Egersund is located five kilometers from the western coast of Norway. The site offers outstanding wind conditions that promise continuous power production and a reliable return on capital for the investors.
“Norway will continue to gain importance as an energy-generating country, as has been demonstrated by the construction of electricity transmission lines between Norway and Germany as well as between Norway and Great Britain,” says Dr. Alexandra von Bernstorff, managing partner of Luxcara.