Project Aura is the sale of a more than 750 MW licensed onshore wind farm located in Northern Sweden. The Project forms part of the Markbygden 1101 cluster and is the second 500MW+ project in the region to be sold.
The Project was acquired by Luxcara in July 2019, and construction was scheduled to start in Q4 2019.
The complex relation of the project between local and national entities made this Project complicated from its inception through to close. However, we were able to capitalise on the momentum in the market generated by the Project's predecessor, Project North Pole. This is the first 500MW+ project to have been sold since the Swedish government announced the closure of the El Certificate regime.
Fieldstone led the equity sale process for the private-sector project developer. The scale of the Project was both an opportunity and a challenge as the volume of power it will produce required a structured offtake strategy to ensure full value was realised. Fieldstone ran a competitive process, maintaining a tight transaction timetable and competitive tension until signing of the SPA.
The project was closed in July 2019. Results exceeded our clients expectations for value and transaction structure.