- RPC acquires 528 MW ready-to-build onshore wind projects in Sweden
A UK-based renewable energy company that is backed up by Canada Pension Plan Investment Board (CPP Investments), Renewable Power Capital (RPC), has announced that it has closed a deal for the purchase of 528 MW ready-to-build onshore wind projects in Sweden. The wind projects acquired include four sites in Kramfors and Solleftea municipalities and expectations are that power generation to the grid will commence in the latter part of 2025.
The deal is a part of an Investment scheme of EUR 800 million, including the purchase of the schemes and the funds necessary for their construction. This figure is more than twice the onshore portfolio of 845 MW across Sweden and Finland, RPC also owns a solar pipeline in Spain of about 4 GW capacity.
The company, RPC, will be responsible for the procurement and construction management of the newly purchased projects.
The company, which was set up in 2020, said the purchase is a sign of its “significant investment appetite, stemming from its backing from CPP Investments.”
“Today marks a landmark moment and the biggest deal to date for RPC, but it also forms part of a long-term strategy to invest in post-subsidy renewable power and storage infrastructure across Europe,” commented chief executive Bob Psaradellis.