Luxcara, one of the leading asset managers for renewable energy investments, has announced the completion of the Norwegian onshore wind farm “Egersund”. The project was secured in December 2015 for a portfolio of institutional investors.
The onshore wind farm comprises 33 turbines and has a total capacity of 111.2 Megawatts. A power purchase agreement of 15 years was already signed in November 2016 and the financial close with long-term financing was finalized in March this year.
Built on a plot of more than seven square kilometers in size, Egersund is located five kilometers from the western coast of Norway. The site offers outstanding wind conditions that promise continuous power production and a reliable return on capital for the investors.
“We are pleased to have completed construction on schedule. With Egersund, we provide our investors access to one of the most profitable locations in Europe for ecologically sustainable power production. Norway will continue to gain importance as an energy-generating country, as has been demonstrated by the construction of electricity transmission lines between Norway and Germany as well as between Norway and Great Britain," says Dr. Alexandra von Bernstorff, Managing Partner of Luxcara.
Luxcara is an independent asset manager, specialising in renewable energy investments for institutional investors. The owner-managed company was founded in 2009 by the sole shareholders Dr Alexandra von Bernstorff and Kathrin Oechtering. Luxcara acquires, structures, finances and operates long-term renewable energy portfolios and manages an investment volume of close to EUR 2.3 billion.
Luxcara’s portfolio includes solar and wind farms in Europe with a total capacity of nearly 1 Gigawatt. With this extensive track record, Luxcara is one of the most experienced asset managers for renewable energy investments.
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