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Luxcara brings Norway one step closer to its climate goals: Opening celebration of Egersund wind farm

Luxcara, one of the leading asset managers for renewable-energy investments, has officially opened a wind farm comprising 33 turbines in Egersund, Norway. The facility, which was completed in only 15 months, has a total capacity of 111.2 MW.

All of the turbines have been feeding power into the grid since November 2017. The opening celebration took place on May 23 with the enthusiastic participation of local residents, who are extremely interested in the topics of wind power and climate change. Norway has committed to the goal of reducing the country’s emissions by 40% by 2030.

The wind farm in Egersund was still in the development phase when it was acquired by Luxcara in December 2015 for a renewable-energy portfolio for institutional investors. The investor pool consists exclusively of institutionals aiming to achieve a reliable return with clean technologies, and thus with renewable energy. The portfolio pursues a buy-and-hold strategy, resulting in a sustainable, long-term commitment. A 15-year power purchase agreement with the Axpo Group in Switzerland was already in place by November 2016.

Luxcara not only manages the facilities themselves over the long term, but is also committed to the local environment. Luxcara therefore created new walking paths in the vicinity of the wind farm and financed the installation of park benches in order to open up the area for nature tourism. Already during the construction phase, residents of the region were invited to regular open houses and tours.

"Opening the Egersund wind farm on schedule demonstrates how important it is to us to respect the needs of the various stakeholders. It is eminently important to us that our financial commitment achieve a positive social and ecological effect. We would be pleased to partner with Norwegian institutional investors as well when we invest in renewable energy and infrastructure in the future," says Dr. Alexandra von Bernstorff, managing partner of Luxcara.

Next Finance 4 June
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