PUBLISHED 07/11/2017
Markbygden ETT

Svevind is pleased to announce that the 650 MW Markbygden ETT wind farm in Northern Sweden, comprising 179 wind turbines, has reached financial close. The project has been acquired by GE Energy Financial Services and Green Investment Group Limited, part of Macquarie Group. As new equity partners, GE and Green Investment Group have raised approximately €800M in financing.

The construction of Markbygden ETT’s infrastructure has already begun, with preparation of about 130km of wind farm roads, crane platforms, wind farm internal cabling and second level substations. GE Renewable Energy will supply 179 of its 3.6 MW wind turbines with 137 meter rotors. The wind farm is expected to begin commissioning in the second half of 2018 and be fully operational by the end of 2019. At that time, Markbygden ETT is expected to be the largest single onshore wind farm in Europe.

Svevind has developed the Markbygden ETT project over the last 15 years. In total, Svevind’s development work in the Markbygden 1101-area may lead to 1,101 wind turbines becoming operational, in what would be the largest collection of wind farms in Europe.

Svevind values the excellent cooperation over time with landowners, authorities, organizations, associations, locals and individuals. This has been a prerequisite for the development and realization of the project. The Markbygden ETT project will be realized on properties owned by Sveaskog Förvaltnings AB, SCA Skogsfastigheter AB and several private property owners.

In addition to wind power, Svevind established other related business activities in the area of Markbygden, such as gravel production for the construction of wind farm roads as well as establishment of local concrete batching plants for the wind turbine foundations. The nearby localization of these businesses minimizes transports and environmental impact. At the moment, the electrical grid connection to the 130 kV grid of Markbygden Net AB and to the 400 kV grid of the Swedish TSO Svenska Kraftnät is under construction.

Statements from the region

Anders Lundkvist, local municipal commissioner of Piteå said: “Investing in wind power in Markbygden already made significant impact on the commercial and industrial life in Piteå. The continued development will create further possibilities for the local economy. But the development also increases the availability of renewable energy, in the long term this is equally important. It contributes to a better environment and will create prerequisites for additional industrial establishments who highly value the availability to renewable energy. For this reason, the decision of continued investment is very welcome for Piteå.”

Sven-Erik Österberg, County Governor of Norrbotten said: ”It is pleasant that one of the largest industrial investments in Europe can be carried out and become reality in Norrbotten. I have followed the work during many years and notice that this is a well founded and carried out project. The wind power investment in Markbygden is important for the development of the county and is of significant importance for Sweden’s and Europe’s energy supply that get a substantially increased addition of renewable energy.”

Stefan Lundmark, Government coordinator for wind power, North region, said: “From the Government we want to send a big and warm thank you to Svevind, GE, GIG and their partners. The project Markbygden ETT will, in a crucial way, contribute to realize the Government’s long-term energy political goal. The project will also create very large effects in the form of new job openings in the short as well as the long run.”

Niklas Nordström, local municipal commissioner of Luleå said: “It is an important milestone not only for the development of Piteå, but for the whole region, and for Sweden a very important step towards a fossil free community.”

Lorents Burman, Chairman of the municipal board of Skellefteå said: “What great couple of weeks for our region. In Skellefteå we have celebrated some weeks and now we get the opportunity to celebrate and be happy together with Piteå. We have always felt a strong connection with our neighbor in the North and at this moment it is extra pleasant. We see dedicated work that brings results in the municipalities, which gets large importance for the growth of North Sweden. The key to success is to work in the same direction. As proud neighbors we congratulate and look forward to a strong cooperation.”

Statement from Svevind

Wolfgang Kropp, CEO of Svevind, said: “Having worked on the development of the Markbygden cluster of wind farm projects since 2002, Svevind is very excited to see this partnership with GE Renewables, GE Energy Financial Services and the Green Investment Group come to fruition. We are pleased to see the success of our hard work demonstrated by the attention the Markbygden ETT project has attracted from world class institutions such as these. We look forward to seeing this project, and future projects around Markbygden, constructed and contributing to the much-needed fight against climate change”.

He added: “We are proud that the Sponsors selected our subsidiary Svevind Solutions to provide the operation and asset management services for Markbygden ETT. We are also very thankful for our local partners in Northern Sweden who have contributed substantially to the success of this landmark project. Realization of Markbygden ETT will give the right headwind for the ongoing final development and later realization of the upcoming projects in the neighborhood to Markbygden ETT.”

In the financial transaction Svevind was advised by

Advokatfirman Lindahl, acting as the legal and transaction advisor to Svevind

Fieldstone and 4initia both acting as transaction and financial adviser to Svevind

About Svevind

Svevind is a privately-owned leading developer, owner and operator of onshore wind projects in Sweden. Founded in 1998, Svevind has a record of permitting approximately 4,000 MW of wind projects in Sweden, of which 226 MW are in operation and 833 MW are under construction. Additionally, with Markbygden ETT entering its portfolio Svevind also provides operation and asset management services for 850 MW of wind projects in Sweden through its subsidiary Svevind Solutions.

Media Contact

Tomas Riklund
Riklund AB 
Telephone: +46 (0) 70-6751133

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