Twin Peaks is a substantial renewable energy asset located in central Sweden, approximately 100km from Östersund. The Project is comprised of two operational wind farms with 39 x 6.2MW Siemens turbines giving a combined capacity of 242MW. Twin Peaks can power over 45,000 homes and is supporting Sweden’s progress towards its 2045 net-zero carbon emissions target.
InfraRed acquired the whole Twin Peaks project in 2021 from Arise, a Swedish renewable energy company, and construction commenced shortly afterwards. InfraRed’s asset management team was heavily involved throughout the construction phase providing oversight and guidance, with Twin Peaks becoming operational on 30 April 2024 on time and on budget.
Dulce Mendonça, Partner, InfraRed Capital Partners, said: “The partial sale of Twin Peaks is a testament to InfraRed’s expertise in bringing construction projects to fruition and our ability to deliver value for our investors.”
ENDS
About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure asset manager, with more than 160 professionals operating worldwide from offices in London, Madrid, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and steward of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$13bn of equity capital [1] for investors around the globe, in listed and private funds across both core and value-add strategies.
A long-term sustainability-led mindset is integral to how InfraRed operates as it aims to achieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has achieved the highest possible PRI rating [2] for its infrastructure business for eight consecutive assessments, having secured a 5-star rating for the 2023 period [3]. It is also a member of the Net Zero Asset Manager’s Initiative and is a TCFD supporter.
InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BGO, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.
[1] $13bn equity under management (USD) – Uses 5-year average FX as at 31st March 2024 of GBP/USD of 1.2839; EUR/USD 1.1179. EUM is USD 12.927m.
[2] Principles for Responsible Investment (“PRI”) ratings are based on following a set of Principles, including incorporating ESG issues into investment analysis, decision-making processes and ownership policies. More information is available at https://www.unpri.org/about-the-pri
[3] In the 2023 Principles for Responsible Investment (“PRI”) assessment, InfraRed achieved a 5 star rating for the Policy Governance and Strategy and Infrastructure and a 4 star rating for the newly created Confidence Building Measures. Please find InfraRed’s report available for download on our website here: https://www.ircp.com/sustainability/
Infranode
Infranode is a long-term infrastructure investor with a particular focus on the Nordic countries. Infranode invests in energy and renewables, digital infrastructure, transport, and social infrastructure. Infranode has offices in Stockholm, Helsinki, Copenhagen and Oslo, and a strong infrastructure investment team with extensive local and international experience. Infranode has about EUR 1.8 billion in committed capital from long-term institutional investors, including some of the most recognized pension funds in the Nordic region. Among the investors are Storebrand, Folksam, the Swedish municipal pension fund KPA Pension and the Finnish public sector pension fund KEVA.
