Renewable Power Capital (RPC) has acquired Njordr’s wind and solar development business in Sweden and Finland, a transaction that includes 22 early-stage onshore wind and solar power projects with the potential to reach a total installed capacity of up to 1.9GW.
Cordelia Forth, RPC’s head of development, commented on the acquisition, stating, “The Nordics have been a priority market for RPC since our inception. As such, we are thrilled to be gaining the expertise of Njordr as we continue to develop vital infrastructure in the region.”
RPC’s senior vice president for Development Nordics, Per Meijer, also expressed optimism about the deal, saying, “It has been excellent working alongside Njordr on this exciting acquisition and I am confident that the addition of their team – and track record of project origination and delivery – will only strengthen RPC’s position in a market with impressive commitments to the energy transition.”
Njordr, the Nordic renewable power subsidiary of Vanir Green Industries (VGI), has been active in securing early positions within the renewable power sector across the Nordic region.
Anders Hærland, managing partner at VGI and director of Njordr, highlighted the strategic value of the divestment, stating, “Vanir Green Industries and Njordr have had a clear strategy of taking early positions within renewable power in the Nordic region to support energy transition and the creation of new green industries. The divestment to RPC is the third transaction in less than two years where we realise value from our project pipelines and a further validation of the work done by the Njordr team in cooperation with local stakeholders.”
Njordr CEO Niclas Erkenstål emphasized the strength of the company’s project portfolio, noting, “We have progressed a highly attractive portfolio of renewable power projects in Sweden and Finland. Now, strengthened by the capabilities and experience within RPC, we are enthusiastic about together meeting the rapidly growing demand for renewable energy throughout Sweden and Finland.
The acquisition further solidifies RPC’s commitment to expanding its presence in the Nordic region, as the company continues to play a key role in the region’s energy transition.
