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Havgul Clean Energy and Triventus Wind Power agree merger

CTBR Staff Writer Published 24 March 2015

Norway-based Havgul Clean Energy and Sweden's Triventus Wind Power will merge their portfolios to create a new company with a 1.55GW onshore and offshore wind developments pipeline.

Wind

The new company, to be called Havgul Nordic, will be the first pan-Nordic wind farm developer and have 15 projects in Finland, Norway and Sweden.

Of the total portfolio, seven projects totaling 504MW of renewable energy will be built in Sweden.

Five projects totaling 865MW are planned to be built in Norway while three Finnish projects will have a combined capacity of 185MW.

Schemes range from small unpermitted sites to large-scale and fully permitted sites including the 350MW Havsul 1 offshore and the 200MW Tonstad wind farm, as well as three sites in Finland's feed-in tariff market.

Havgul Nordic will maintain offices in Oslo, Norway; and Falkenberg, Sweden.

The companies said Havgul Nordic will provide a single platform for investors to access a range of wind projects across three markets, combining onshore and offshore.

The move will help cut overall development costs and enable knowledge sharing and better economies of scale in development and EPC phases.

Havgul Nordic CEO Harald Dirdal said: "We are aiming to establish one of the lowest cost and highest return wind developers in the Nordic.

"The Norwegian and Swedish Governments have recently increased their renewable energy targets and we expect to be well positioned to exploit this highly positive regulatory driver in the years ahead."

UK-based SgurrEnergy delivered advisory services to complete and facilitate the merger.

Image: The new company, to be called Havgul Nordic, will be the first pan-Nordic wind farm developer. Photo: Courtesy of dan/FreeDigitalPhotos.net.