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Unclear how the wind farms outside Gävle are to be financed - hundreds of millions are needed

Svea Vind Offshore does not have the opportunity to finance such large investments. They have to have external investors to be able to do that, they have only a few million at their disposal, says Peter Lindberg, finance expert in business administration at the University of Gävle, after going through Svea Vind Offshore's latest annual report.

SWEDEN - The disputed wind farms off the Gävleborg coast got an unexpected turn when the Left Party in Gävle changed foot. But it is still unclear who and who will invest the hundreds of millions, probably billions, needed.

The company behind the application, Svea Vind Offshore, lacks the financial muscle to carry out the project but does not want to tell who the intended investors are. SVT Gävleborg has reviewed the annual report and let an economist at Gävle University look closely at the company.

- They themselves do not have the opportunity to finance such large investments. They have to have external investors to be able to do that, they have only a few million at their disposal, says Peter Lindberg, finance expert in business administration at the University of Gävle, after going through Svea Vind Offshore's latest annual report.

- We have financed ourselves for four years to be able to be independent and to be able to set conditions around the project and take responsibility locally, says Svea Vind Offshore's CEO Mattias Wärn.

But who are the investors, foreign or Swedish ...?

- They are the ones who want to take responsibility for the future, I think it will be a mix. But I will happily tell you who they are when we get to that time.

So you can't tell who's behind it?

- I can't say that right now, I can tell you that in three years.

Financing expert Peter Lindberg is skeptical:

- It's about very large investments and the question is whether there are any investors. Although they cannot say who the investors are, at least the municipality should know who they are. Otherwise, it is directly rogue, he says.

Translation via Google Translate


Source: https://www.svt.se/nyheter/...

MAY 7 2020
http://www.windaction.org/posts/51281-unclear-how-the-wind-farms-outside-gavle-are-to-be-financed-hundreds-of-millions-are-needed
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