Everoze and Wind Sweden supporting Octopus’ acquisition of Ljungbyholm wind farm
Everoze is thrilled to have supported Octopus Renewables Infrastructure Trust (ORIT) with its first wind farm acquisition in Scandinavia. Ljungbyholm wind farm was developed by OX2 in Kalmar county and consists of 12 Nordex N149 totaling 48 MW planned to operate in Q3 2021.
Everoze partnered with Wind Sweden’s expertise of the Swedish wind power industry to undertake an extensive scope of work for this transaction including the technical review of permits, environmental constraints, grid connection, land rights, Nordex N149 turbine technology, project design, construction and O&M contracts, energy yield and project financial model.
Along with Wind Sweden, Everoze leveraged its innovative LiveDiligence platform to employ its leading due diligence process, ensuring a robust risk assessment, smooth communication and continuous identification of risk items. Through the process, efficient mitigation measures were discussed and agreed between the parties, allowing the technical risk profile of the project to reach an acceptable level for ORIT in this new market and within the challenging transaction timeline.
Financial close occurred in early March 2020. The project is expected to become operational in the beginning of 2021. During the construction phase, Everoze continues to support Octopus Energy Investments as Owner Engineer including detailed electrical, civial and foundation design reviews, frequent site visits, milestone validations and wind turbine inspections at take-over.
Everoze’s work was led by French partner Alexander Klein supported by a broader project team including Justine Malafosse, Simon Hughes, Arnaud Thomé and Wind Sweden consultants Mikael Palmqvist and Kristina Jämting.