Rabbalshede Kraft expands beyond Nordics with Irish wind farm takeover

Swedish renewables developer Rabbalshede Kraft has added a 24.2-MW wind farm in Ireland to its portfolio in an effort to expand its operations beyond the Nordic region.

In a press release on Thursday, the firm said it was taking over the Ballycadden wind farm from TD Greystone Infrastructure Fund (TD GIF), becoming its co-owner with nine local landowners.

TD GIF, an open-ended infrastructure fund and the 100% owner of Rabbalshede Kraft, first invested in Ballycadden in 2015. It has been the majority owner of the wind farm since and has now passed its share to Rabbalshede Kraft.

“The handover clearly demonstrates TD GIF's intentions and continued commitment to Rabbalshede Kraft,” the press release said.

Situated at a site in County Wexford, the Ballycadden wind farm is made up of nine turbines generating around 66.9 GWh of electricity annually. It has been operating since 2013, providing stable cash flows under a 15-year power purchase agreement (PPA) with Irish energy company Energia Group, Rabbalshede Kraft said.

"This project will not only increase our production capacity but also provide us with valuable insights and experience from one of Europe's most dynamic wind power markets. We are now looking forward to exploring further investment opportunities in Ireland and other parts of Northern Europe," stated Peter Wesslau, CEO of Rabbalshede Kraft.

Ireland-based firm EnergyPro will continue to provide operation and maintenance services for the wind farm following the handover.

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