Ardian infrastructure and Rabbalshede Kraft to supply google with clean energy from new wind farm in Sweden

Ardian, the independent private investment company, and Rabbalshede Kraft, the Swedish independent green energy producer, have entered in a joint venture to build and operate a 76MW wind farm in Southern Sweden - one of the best areas for onshore wind in Europe. The wind farm has been developed by Rabbalshede Kraft. Ardian will hold a 75% stake and Rabbalshede Kraft a 25% stake.

Google has entered into a long-term Power Purchase Agreement for the entire production of the wind farm. This agreement is in line with Google’s goal of sourcing 100% of its power usage from renewable sources. Electricity certificates will also be sold forward.

Rabbalshede Kraft will supervise the construction with a commissioning anticipated in the last quarter of 2017. Infrastructure and grid connection will be undertaken respectively by Skanska and Ellevio. The site will be equipped with twenty-two V126 3.45 MW Vestas turbines with a target full-year production of 234 GWh. Rabbalshede Kraft will also be responsible for all technical and commercial activities of the wind farm once operational.

Both companies are well-established in the renewables sector. Ardian Infrastructure has reinforced its position as one of the leading independent market participants in the renewable power sector in Europe. It is currently invested in projects representing over 1 GW of installed capacity across wind, solar, hydraulic, biogas and biomass energies. Its latest investment was completed six months ago in a greenfield wind project in Norway. Rabbalshede Kraft is a leading developer and operator in wind power production and has been involved in the commissioning of 95 wind turbines to date. Rabbalshede Kraft is part of Manor Group, a leading sustainability investor active in energy and agriculture technologies in 15 geographies world-wide.

Mathias Burghardt, Member of the Executive Committee and Head of Ardian Infrastructure, said: “We are excited to partner with the experienced team of Rabbalshede Kraft for our first investment in Sweden. This investment will solidify our presence in Scandinavia and we are very pleased by this first of partnership with Google for renewable energy.”

Amir Sharifi, Director at Ardian Infrastructure, added: “Our goal is to develop a new industrial partnership with Rabbalshede Kraft which will benefit from our combined expertise. We count on this project to be one of the most efficient ones in the market as it is being built in a very low electricity price environment and in a good wind location.”

Francois Sterin, Director, Global Infrastructure at Google, said: “Google has been carbon-neutral since 2007 and we are committed to powering 100% of our operations with renewable energy sources. Today's announcement is Google’s 7th European wind power deal to date and reinforces our position as the world’s largest corporate renewable buyer.” 

Lars Larsson, Rabbalshede Kraft COO, added: ”This project is core to our strategy of securing long term revenue for high quality wind projects. We look forward to delivering clean energy to Google and to entering into a partnership with Ardian, two outstanding corporates. We are convinced that this is a start for two long term relationships.”

Jean Baptiste Oldenhove, Managing Director of Manor Group complemented: “This is another important step in the development of Rabbalshede Kraft, and at the heart of Manor’s mission to transform industries towards sustainability and resource efficiency.”