FINLAND: ​Susi Partners prepping sale of Finnish wind assets

Susi Partners is understood to have further splintered up the sale of its circa 600 MW European onshore wind portfolio, following its reaching an agreement to divest the 208 MW Tonstad project to Hafslund in mid-May.

The Switzerland-based group initiated soundings for the disposal of the close to 600 MW portfolio of operational onshore wind - held via Susi Renewable Energy Fund II (SREF II) - in early 2024, in a process overseen by Jefferies, with sources close to the investor indicating at the time that it was only seriously considering bids for the portfolio in its entirety.

However, it is subsequently understood to have revised its strategy, with the disposal of Tonstad in Norway the first scheme to be sold as a standalone asset.

The group is now believed to be in ongoing talks over the sale of its 94.6 MW Lyngsåsa onshore wind project in the SE4 region of Sweden, while a separate process for the disposal of three operational Finnish wind farms with an installed capacity of 40 MW - 50 MW is forecast to kick off in the coming weeks.

Susi is believed to be being advised on the Swedish and Finnish wind disposals by SEB (financial).

Susi has put further assets on the block in Denmark, including the 25.2MW Nøjsomheds Odde wind farm, the bulk of which was acquired from European Energy in December 2018, France, Germany and Ireland, such as the 13.2MW Cappawhite B onshore wind project in Tipperary purchased from ABO Wind in H1 2018.

The assets in the close to 600 MW portfolio have largely come on line between 2015-2020 and have the majority of their long-term revenues secured under long-term PPAs or feed-in tariffs, according to market sources.

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