Project Development

Aravis Sells Wind Farm to EBM

Aravis Energy I LP, a Swiss venture capital firm based in Zurich, has sold wind energy company LuciaWind AG to the utility EBM. LuciaWind AG operates a 42-megawatt (MW) wind farm in Spain.

The project, which includes fourteen 3-MW wind turbines, is situated in Andalusia on Spain’s Atlantic coast and is one of the projects in Aravis Energy’s portfolio. The purchase of the wind farm makes EBM one of the largest Swiss wind farm owners. The investment volume is more than 100 million Swiss francs [US $90 million].

Oliver Thalmann, Aravis Energy’s managing partner, said there is an increasing demand in the Swiss energy market for electricity from European wind farms and solar energy farms.

“There are interesting projects – particularly in countries such as Italy and Spain – which could be of significance for Swiss utility companies wishing to maintain a balanced and sustainable energy mix. However, in order to select the right project, one needs not only a sound knowledge of the industry and finance, but also detailed information regarding the local conditions.”