Nordic renewable energy developer Landinfra Energy and the Eiffel Investment Group have partnered to develop a pipeline of renewable energy projects in Sweden with a combined 1.8GW of capacity.
Eiffel has acquired a 50% stake in the portfolio, while Landinfra retains the other half. The projects will encompass solar power, wind power and energy storage systems.
The investment portfolio managed by Eiffel Investment Group through Eiffel Infrastructure Vertes and Eiffel Transition Infrastructure will contain 1.35GW of solar power projects with integrated energy storage.
Also included are 300MW of wind power and 140MW of stand-alone energy storage projects.
The portfolio will have an investment volume of €1.5bn ($1.62bn), with an annual generation of two terawatt-hours of green energy.
The majority of the ten projects within the portfolio are situated in Sweden's SE3 region, with the remainder in SE4.
Landinfra Energy CEO and co-founder Marcus Landelin stated: “We are pleased to join forces with Eiffel to jointly develop a large-scale renewable energy portfolio.
“Eiffel is a leading asset manager in the European market, with strong experience from development partnerships and funding, and jointly we will bring the necessary capabilities and financial strength to add new and much-needed sustainable energy production to SE3 and SE4.
“This partnership is in line with Landinfra’s strategy to enable investors to enter renewable energy projects already in development.”
All projects are in the development phase, with the first batch ready for construction by spring 2025, subject to the acquisition of permits.
The transaction requires approval from the Swedish Inspectorate of Strategic Products.
Eiffel Investment Group infrastructure head Pierre-Antoine Machelon stated: “We are very excited about this new partnership with Landinfra.
“This new transaction will accelerate the deployment of additional renewable energy capacity in Sweden by bringing much-needed equity in the development phase of the projects and leveraging Landinfra’s strong experience of renewables development.”
The agreement follows a previous arrangement in February 2023 in which Landinfra and Taaleri Energia agreed to develop 1.9GW of Swedish renewable energy projects.
These projects are also hybrid, combining solar and wind power with energy storage. Taaleri also acquired a 50% share of the portfolio, with Landinfra retaining the other half.
