Energy Infrastructure Partners sells onshore windfarm stake

DLA Piper has advised Energy Infrastructure Partners (EIP), on the sale of a minority stake in one of Europe’s largest windfarms to AG Insurance (AGI).

The transaction marks AGI’s first direct equity investment in on an onshore wind project. EIP will continue to remain the majority shareholder in line with its long-term investment strategy.

The Nysäter windfarm cluster began operations in 2021, and is made of over 110 turbines. It consists of two wind farms, Hästkullen and Björnlandhöjden, in Northern Sweden. The project produces 474 million watts of clean electricity, capable of powering up to 300,000 homes.

DLA Piper advised EIP on its original investment in the project in 2018, and has worked alongside them through the construction, commissioning and operation of the wind farms. The transaction highlights DLA Piper’s experience in the European renewable energy sector.

The DLA Piper team was led by Fredrik Lindblom, partner in the firm’s Projects practice and Victoria Rhodes, partner in DLA Piper’s Corporate practice. They were supported by a multi-jurisdictional team including: Bjorn Sjoberg (partner, Finance, Stockholm), Guillaume Schaefer, Melody Brunot (both counsel, Corporate, Luxembourg), Tim Hagberg (senior associate, Finance, Stockholm), James Croft (senior associate, Corporate, Leeds), Charlotte Eliades (senior associate, Projects, London) and Matthew Manwaring (associate, Corporate, Leeds).

Fredrik Lindblom said: “Since 2018, DLA Piper has been advising Energy Infrastructure Partners on the Nysäter project, and we take pride in our ongoing involvement. The Nysäter wind farm cluster is a cornerstone in Sweden's green transition, generating renewable energy sufficient to power over 300,000 Swedish households. Projects like this, which significantly impact sustainable energy development, are at the heart of our passion and commitment.”

Victoria Rhodes added: “The Nysäter transaction, which involved a minority sell-down to a Belgian investor, was an engaging deal that aligned extremely well with our team's expertise. As the markets evolve, we continue to support numerous clients in understanding and managing the complexities of such deals. We are familiar with the important issues that arise and are thus able to anticipate them, helping to get the deal over the line efficiently and in accordance with the parties' expectations.”