Asper Investment Management Ltd (“Asper”) has agreed on behalf of one of its funds under management, to sell its 100% holding in Vasa Vind Holdings AB (“Vasa Vind”) to funds managed by APG Asset Management N.V. (“APG”).
Stockholm-based Vasa Vind was established in 2013 and under Asper’s management has grown to become a leading developer and operator of onshore wind projects in the Nordic region. To date Vasa Vind developed and built 337MW of large-scale onshore wind projects in Sweden, is constructing another 60MW and is developing a further pipeline of c.1GW of greenfield projects. Vasa Vind also carries out a full-suite of operational, technical and commercial management of five operational windfarms for a total of 525MW.
Mattias Sjöberg, CEO of Vasa Vind, said “Vasa Vind is committed to contribute to society by delivering substantial volumes of renewable energy and supporting the green industrial transformation. We are delighted to be partnering with a like-minded and long-term investor who can work with us to realise our exciting and growing pipeline of sustainable energy projects. We would like to thank Asper for their important contribution and vision to build Vasa Vind from a team of three people back in 2013 to the successful business it is today.”
René Defize, Senior Portfolio Manager of APG, said “On behalf of our pension fund clients, we are delighted to add the Vasa Vind organisation and development pipeline to our existing Nordic platform. We have worked successfully with Vasa Vind over several years and we look forward to continuing that successful relationship and realising many more attractive projects in the Nordic region together.”
Allister Sykes, Director of Asper, said “Our work with Vasa Vind over the last 8 years is a great example of Asper’s strategy to Build the New. We are proud of our legacy and delighted with what Vasa Vind has achieved over this period: together we have mobilized over €400m of investment in new-build sustainable energy projects, and built a highly professional team capable of delivering many more projects in the future. We wish Mattias and the Vasa Vind team all the best for the future and we’re sure their partnership with APG will enable many more new, sustainable energy projects to be realised in the coming years.”
APG has been advised by Roschier as Legal Advisor, by EY Corporate Finance as M&A, Financial and Tax Advisor and by DNV as Technical Advisor. Asper has been advised by Vinge as Legal Advisor, by Swedbank as M&A Advisor, by PwC as Tax Advisor and by AFRY as Technical Advisor.
About Vasa Vind
Vasa Vind develops, constructs and operates wind power projects. The portfolio includes one of Sweden’s largest development projects (Hällberget, Överkalix), one project currently under construction (Raftsjöhöjden, Strömsund) as well as 525 MW of operational wind power across Northern Sweden. Visit our website: www.vasavind.se
APG is the largest pension provider in the Netherlands, looking after the pensions of 4.7 million participants. APG manages approximately €613 billion (July 2021) in pension assets and employees c. 3,000 employees across its offices in Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing.
APG has been an active infrastructure investor since 2004, investing approximately €18 billion to date and over €6 billion in the energy sector including several assets in the Nordic region. APG's investments include assets within energy, utilities, telecommunications and transport infrastructure. APG's Global Infrastructure team comprises c. 40 investment professionals. Visit our website: www.apg-am.nl
Asper Investment Management is an independent investment management firm specialised in sustainable real assets. Its investments and commitments managed by Asper total in excess of €1.6 billion and since 2019 it has raised three new co-investment partnerships dedicated to energy transition investments in Ireland, the Netherlands and the UK. Visit our website: www.asper-im.com
Read the press release in pdf format here.