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17 October 2018

Two Swedish wind farms achieve financial close

Mott MacDonald is lenders’ technical advisor on two wind farms in Sweden that have successfully reached financial close. With a combined generating capacity of 353MW, Blakliden and Fäbodberget will form one of the country’s largest onshore wind farms once operational.

Vestas will supply 84 turbines for the two wind farms, 50 at the Blakliden site in Åsele and 34 at Fäbodberget in Åsele and Lycksele. Once connected to the grid, the facilities will be capable of producing just over one million MWh of clean, renewable energy annually, enough to power approximately 220,000 households.

Mott MacDonald initially provided technical advice to Vestas and PKA, a Danish pension fund, on the scheme, before transferring to a lenders’ technical advisor role once the transaction was successfully closed. During this time, the consultancy provided due diligence, including undertaking detailed reviews of the wind turbine and anti-icing technologies, the hourly production obligation risk under the offtake agreements, construction contracts, programmes and financial models, environmental and social plans and energy yield assessments. Mott MacDonald will now monitor construction and operations in an ongoing role.

Gary Bills, Mott MacDonald’s project principal, said: “We are pleased to have supported these wind farms to reach equity and debt financial close, further manifesting our solid track-record in Scandinavia including the use of anti-icing technologies. We are looking forward to continuing to support the lenders during the four-year construction period.”

Blakliden and Fäbodberget wind farms are expected to begin full commissioning in the fourth quarter of 2021.

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