Wind Fund I is a € 480 million investment fund for onshore wind equity financing. The investment fund is managed by Hvitsten AS, which is licensed as an infrastructure fund manager owned by Fred. Olsen & Co. The Fund has been established with the sole purpose to co-invest with Fred. Olsen Renewables AS in certain existing and future wind farms.
Committed capital is EUR 480 million, with Kommunal Landspensjonskasse (“KLP”), MEAG Munich ERGO AssetManagement GmbH (“MEAG”) acting on behalf of various entities of Munich Re Group including ERGO, and Keppel Infrastructure Trust (“KIT”) / Keppel Corporation Limited (“Keppel”), each committing EUR 160 million.
Initially, the fund has acquired an indirect ownership of 49% in three windfarms with a combined capacity of 258 MW (Lista Vindkraftverk AS, Fäbodliden Vindkraft AB and Högaliden Vindkraft AB).