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Prime Capital divests portfolio of operating Finnish wind assets to reinvest in greenfield projects

09/12/2020

Frankfurt, 9th December 2020

Prime Capital, the independent asset manager managing 17.9 bn EUR across multiple funds, announces the divestment of three Finnish wind parks. The portfolio consists of 11 Vestas turbines, totalling 36.2MW. Spread across Finland, it provides diversified wind exposure to the investors and benefits from excellent wind resources well above 7m/s. The projects have been operating for an average of approx. 4 years and have another 8 years remaining under Finland’s attractive contracts-for-difference regime. The portfolio was acquired by two institutional Luxembourg funds, advised by a German asset management company.

The projects were part of an account managed on behalf of a German pension fund, focusing on wind and hydro assets in the Nordics. “We are happy to have achieved a very attractive return for our investor on this divestment, due to several optimizations in the portfolio, and see the proceeds reinvested in our value-add strategy, through the Prime Green Energy Infrastructure Fund. Focus of this fund is on large-scale greenfield renewable projects in the Nordics, offering the lowest levelized cost of energy in Europe with no reliance on government support” says Dr. Mathias Bimberg, Head of Infrastructure at Prime Capital.  “We are working on some interesting opportunities in our Infrastructure business at the moment, including in Finland for 2021”, he adds.

Sales advisor was expert infrastructure and energy M&A advisor Newsec Infra, while on the legal side Prime Capital was advised by Finnish law firm Krogerus. PWC Germany provided structuring support.

About Prime Capital:
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Prime Capital AG is an independent asset management firm and financial services provider. The company specializes in Alternative Investments, in particular in Absolute Return, Infrastructure, including Renewable Energies and Private Debt. Furthermore, the company offers Asset Management Outsourcing and Access Solutions. Prime Capital was founded in 2006, currently employs around 100 people in Frankfurt and Luxembourg and is regulated by BaFin and CSSF.

As of September 2020, Prime Capital has approximately EUR 17.9 bn Assets under Management, managed and administered.

For additional information, quotes or requests please contact:

Prime Capital AG

Andreas Kalusche, CEO
Questions regarding the content please contact Dr Mathias Bimberg
Tel: 0049 69 9686 984 308
mathias.bimberg@primecapital-ag.com
www.primecapital-ag.com

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