A fresh breeze in Sweden – from mines to the skies
BayernLB

A fresh breeze in Sweden – from mines to the skies

Sustainable electricity from the Zinkgruvan wind farm

As Sole Mandated Lead Arranger, BayernLB supported the Hamburg-based, international asset manager CEE Group, which specialises in regenerative investments, with its acquisition of the Swedish wind farm ZINKGRUVAN.

The wind farm is located 70 km north of Linköping in the Swedish province of Östergötlands län, in the south east of the country close to the small mining village of Zinkgruvan. It comprises 14 GE Renewables turbines with an output of 3.8 MW each, a rotor size of 137 metres and hub height of 110 metres.

At the beginning of 2019, the project was built and connected to the grid by European Energy A/S, a Danish developer of wind and solar farms. Since then the wind farm, with a total capacity of 53.2 megawatts, has supplied around 40,000 homes with sustainable power.

CEE Group’s takeover of the wind farm marks its first investment in Sweden. “The acquisition of Zinkgruvan wind farm is an important step forward in our international growth strategy,” commented Detlef Schreiber, CEO of CEE Group.

Dr. Christoph Fischer, head of BayernLB’s Global Structured und Trade Finance Division, concurs: “the transaction marks a milestone for BayernLB too in relation to the Scandinavian market. We are delighted that we were able to win over the CEE Group with our expertise in renewable energy and can now build up our track record in Sweden.”

With the Zinkgruvan wind farm, CEE is expanding its onshore wind energy portfolio to a total installed capacity produced by wind power plants of approximately 490 MW. In addition, CEE has photovoltaic plants with a total capacity of around 315 MWp. With assets under management of around EUR 1.5 billion, CEE Group invests in energy generation projects in the wind and solar sectors.

© Adobe Stock