Private equity firm Ardian said on Feb. 28 it would invest $341.52 million in a project to develop a wind farm in Harjedalen, Sweden, and would look to expand its presence in the Nordic renewable energy market.
The firm, which has around $90 billion of assets under management, said the wind farm will be operational in 2021 and is expected to produce in excess of 800 GWh per year.
Ardian said it was looking for further opportunities in the Nordic region, where governments have committed to switching away from fossil fuels. Sweden plans to cut its net greenhouse gas emissions to zero by 2045 and will forbid the sale of new diesel and petrol fueled cars after 2030.
"The Harjedalen investment is a major step in launching a new investment platform for sustainable energy in the Nordics," Ardian said in a statement.
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