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Ardian forms joint venture with Swedish green energy producer

  • Region:

    Sweden

  • Sector:

    Energy

  • Deal Size:

  • Buy Side Company:

    Ardian
  • Sell Side Company:

    Rabbalshede Kraft AB
  • Target Company:

Ardian has teamed up with Swedish green energy producer Rabbalshede Kraft to build and operate a wind farm in southern Sweden with the aim of supplying clean energy to Google. Ardian will hold a majority (75 percent) stake in the joint venture while Rabbalshede Kraft will take a minority (25 percent) stake. No financial terms were disclosed. Google has entered into a long-term Power Purchase Agreement for the entire production of the wind farm. This agreement is in line with Google’s goal of sourcing 100% of its power usage from renewable sources. Electricity certificates will also be sold forward. Rabbalshede Kraft will supervise the construction with a commissioning anticipated in the last quarter of 2017. Infrastructure and grid connection will be undertaken respectively by Skanska and Ellevio.

Tags:

Ardian,Rabbalshede Kraft,Energy,Renewable Energy,Wind & Solar Energy,Wind Farm,Sweden,Joint Venture