June 3, 2020 / 2:54 PM / a month ago

HOLD- Germany's ENERCON sells 200 mln eur Swedish wind farm stake

ZURICH, June 3 (Reuters) - German wind energy group ENERCON has sold a 200 million euro ($224 million) majority stake in Sweden’s Markbygden II wind farm cluster to investors in a Credit Suisse fund, the companies said on Wednesday.

The wind farm, currently under construction, will become one of the top three onshore wind farms operating in Europe, as measured by installed capacity, Credit Suisse said.

“Our share in Markbygden is expected to be operational by the end of 2021, with a combined annual production of 657 GWh,” Peter Schuemers, transaction lead at Credit Suisse Energy Infrastructure Partners, said in a statement.

The 85% stake represented by investors in Credit Suisse Energy Infrastructure Partners AG will generate sufficient power to provide 66,000 Swedish households with electricity when full production is achieved by end-2021, the bank said in its statement.

ENERCON, which is installing wind energy converters in the project, will retain a minority stake in the project, both ENERCON and Credit Suisse said in separate statements. ($1 = 0.8932 euros) (Reporting by Brenna Hughes Neghaiwi;Editing by Elaine Hardcastle)

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