Cube Infrastructure Fund II acquires shares of Varanger KraftVind AS
DLA Piper has advised Cube Infrastructure Fund on its acquistion of 49% of the share capital of Varanger KraftVind AS from Varanger Kraft.
Cube Infrastructure Fund II are managed by Cube Infrastructure Managers, an independent Luxembourgian management company focusing on investments in the European infrastructure space.
Varanger Kraft is a Norwegian utility consisting of 7 different companies, located in the north-eastern part of Norway. The core business areas are production of power from hydro and wind, combined with ownership and operatorship of more than 3000 km of grid.
Varanger KraftVind AS operates the Raggovidda wind farm in Berlevåg, Arctic Norway, with an annual production of close to 200 GWh. Cube and Varanger Kraft, has committed to finance the expansion of the Raggovidda wind farm, and by late 2021 the wind park will increase annual generation to more than 400 GWh.
The DLA Piper team was led by Corporate partner Fredrik Lykke.
