Alternative investments solutions provider Aquila Capital is set to increase the installed capacity of its Midtfjellet wind farm in Norway by 40MW to a total of 150MW.
At the wind farm, the company plans to install 11 Nordex N117 turbines with a 3.6 MW-rated output capacity, each.
Aquila Capital EMEA Investment Management Energy & Infrastructure head Susanne Wermter said: "We look forward to further expanding our successful cooperation with our Norwegian partners.
“The past few months have shown how value creation can result from collaborations between asset managers and strategic investors.”
Operational since 2013, Midtfjellet currently comprises 44 Nordex N100 and N90 wind turbines that were built in two construction phases.
Since commissioning, the wind park has an annual production of around 322 GWh.
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By GlobalDataIn early 2019, Aquila Capital plans to commission the additional turbines of the third build-out phase, which is expected to increase the wind park production by about 110 GWh/year.
Aquila Capital CEO and co-founder Roman Rosslenbroich said: “Our majority stake in Midtfjellet Vindkraft was an important step for us in the implementation of our Renewable Energy Strategy in Scandinavia.
“The Nordics generally offer very good wind resources and wind power requires lower capital expenditures than in many other feed-in tariff markets, thus the levelized costs of energy of wind in such markets are very competitive.”
The company further plans to diversify its portfolio through selected additional projects in Northern Europe.
Aquila Capital’s transaction volume in wind energy has reached more than €1b.
