The London-based specialist investor, Impax Asset Management, announced the sale of a 107.7MW wind farm portfolio in Finland today.
The wind farm portfolio, a fund managed by Impax, has completed its sale with Allianz Capital Partners – the Allianz investment manager for alternative investments.
The sale is in accordance with the fund’s strategy of realising assets once they are operational. Impax has grown the Portfolio by acquisition since 2013, and subsequently constructed the entire Portfolio which includes three projects in Finland, two in Lapland and the third in the North Ostrobothnia region. It has a total installed capacity of 107.7MW, comprising 35 wind turbines with a combination of Vestas and Nordex technologies.
Ben Stafford, Associate Director at Impax, commented:
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“We are pleased to complete this sale to Allianz Capital Partners. The sale represents a material part of our current disposal programme and follows the successful sale of our French and German portfolio earlier this year. We have enjoyed strong support in Finland and appreciate the hard work of the all parties involved in completing this process.”
The terms of the deal are not disclosed.
Impax’s legal adviser to the transaction was White & Case in Helsinki and Impax’s financial adviser was Augusta & Co in London.