Wind power in Sweden: Vestas wind turbines for a wind farm

Allianz Capital Partners has placed an order with Vestas for the Mombyåsen project in Sweden.

The order takes Vestas’ firm order intake on the V126-3.3 MW in Sweden close to 200 MW.  The order for the Mombyåsen project comprises 10 V126-3.3 MW turbines and includes delivery, installation and commissioning of the turbines as well as a 10-year Active Output Management (AOM) 5000 service agreement. Delivery of the turbines is expected to take place in second quarter of 2016, with commissioning expected to start in third quarter of 2016.

Allianz Capital Partners is the Allianz Group’s in-house investment manager for alternative investments. With a combined generation capacity of more than 1,200 MW, it is one of the world’s largest financial investors in renewable energy. Arise AB, a well-established developer with a large portfolio primarily in Sweden, has developed the Mombyåsen project and will manage the construction of the wind power plant.

“We are very pleased to further strengthen our position in the Swedish wind market by acquiring the Mombyåsen project – our fourth wind park in Sweden”, said David Jones, Head of Renewable Energy at Allianz Capital Partners. “We are looking forward to working with both Arise and Vestas to ensure the smooth construction and optimal long-term operation of the asset”.

We look forward to working with our key supplier Vestas to bring yet another wind power project to the Swedish market.  Vestas has competitive technology, comprehensive capabilities within service and foremost the lowest cost of energy over the lifetime of the project”, says Peter Nygren, CEO at Arise AB.

“We appreciate our partnership with both Allianz and Arise, and we thank them for choosing Vestas’ state-of-the-art technology with the lowest cost of energy. We look forward to a close collaboration from the earliest stages of the project through to completion and operation”, says Klaus Steen Mortensen, President, Vestas Northern Europe.

Allianz Capital Partners is the Allianz Group’s in-house investment manager for alternative investments. With offices in Munich, London, New York and Singapore Allianz Capital Partners manages more than EUR 13 billion of alternative assets. The investment focus is on direct investments in infrastructure and renewable energy as well as private equity fund investments. ACP’s investment strategy is targeted to generate attractive, long-term and stable returns while diversifying the overall investment portfolio for the Allianz Group insurance companies.  
Arise is one of Sweden’s largest windfarm operators with 261 MW own production and additional 225 MW under management for others, including the Mombyåsen project. Arise is an energy company with the resources and experience required to handle the entire value chain, from planning, permit applications and wind measurements, to the construction and management of a wind farm for a period of 25 years or more. Arise business concept is to produce and sell self-produced, renewable electricity and to construct and operate wind farms on behalf of others.