Wotan

Greenfield financing for an onshore windfarm

Providing long-term financing for subsidy-free renewable energy projects

Investment overview
Industry
Renewable energy
Country
Sweden
Rivage role
Structuring role

Rivage Investment was the sole lender in the long-term senior financing of the construction and operation of a 72.6MW onshore wind farm located in Southwest Sweden.

It is the second fully merchant transaction that Rivage Investment has completed with the Sponsor, who is seeking to establish themselves as an IPP in the Nordic markets.

Investment rationale

The construction will be completed by a consortium of top-tier counterparties experienced in the sector, with all of the main contracts secured on a fixed-price, turnkey basis.

The contract is located in the SE3 price zone, which has the highest level of consumption in the four Swedish price zones and has historically benefitted from higher prices. In addition, the project benefits from a conservative and flexible debt structure, making the project more robust over time in the event of a sharp downturn in market prices.

Investment overview
Industry
Renewable energy
Country
Sweden
Rivage role
Structuring role
Top tier contractors
Providing the delivery of the project on a fixed-price turnkey basis
Robust Demand
Located in the price zone with the highest consumption level in Sweden
Conservative structuring
Increasing the project’s robustness to downside price scenarios

Our infrastructure senior debt investments span across Europe