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Fu-Gen Renewables and Straits International complete acquisition of two operating wind farms in North Sweden, Kalix and Haparanda municipalities

Kalix Wind is Fu-gen's first investment in Sweden. Funding for the project was secured from a group of professional financial investors, benefiting from the expertise of both Fu-Gen Renewables and Straits International.

Stockholm, Sweden and Zurich, Switzerland December 18, 2017: Fu-Gen Renewables, Swiss Renewable Energy project developer and Straits International, Swedish expert in Wind Energy announced today the successful completion of two Wind projects acquisitions, consisting of eight turbines. The projects are located in Haparanda and Kalix municipalities, Sweden and were commissioned in 2006 and 2011. Closing occurred on December 1st, 2017.

With a capacity of eleven MW, the wind farms enjoy exceptional wind conditions. Fu-Gen Renewables and Straits International will apply for new permissions to repower existing sites, increasing the installed capacity and replacing the existing turbines with modern ones. The new project is expected to increase the output by four, compared to current production. As Managing Director for the acquired projects, the companies assigned Mr. Tord Ӧstlund, a wind energy veteran.

Lorenzo Lanteri, Chairman of Fu-Gen said, “We are pleased to complete our first investment in Sweden. We are seeking to extend our activity in the country with additional investments in wind projects”

Matthias Rapp, CEO and owner of Straits International added, ”We are happy to have made this first deal together with Fu-Gen and we are now working on further deals. Our target is to reach an annual production of minimum 100 GWh within a couple of years”

Yaron Feingers, Co Founder of Fu-Gen added, “We are focused on identifying new opportunities to bring up value applying pro-active management based on our long experience in wind energy projects”