Downing LLP is pleased to announce that it entered into an exclusivity agreement with Cloudberry Clean Energy AS to buy a significant majority interest in a 100MW nearshore, shallow water wind farm to be built in Lake Vänern in southern Sweden. The transaction is expected to close in the first half of 2021.

Construction of the 16-turbine project is anticipated to commence in 2021 and once fully developed in 2023/24, the wind farm will significantly improve the region’s access to clean and renewable energy.

This opportunity is one of a string of opportunities Downing is focussing on in the core renewables space in the Nordic region.

Henrik Dahlström, Investment Director at Downing LLP, said:

“Downing has been making investments in renewable energy for over a decade and has a wealth of relevant experience. We are pleased to be partnering with Cloudberry on this landmark project and contributing to the growth of renewable energy generation in Sweden.”