NORDIC POWER PARTNERS WILL REDUCE GLOBAL WARMING
Nordic Power Partners is a new Danish company that is to develop solar and wind projects in developing countries and emerging markets. The projects will contribute to reducing global warming and strengthen Danish companies. The Danish Climate Investment Fund and the company European Energy are behind Nordic Power Partners.
Around 25 – 30 per cent of the population in developing countries and emerging markets does not have access to electricity, which means that demand for energy is quite substantial. Many of the countries looking to close the energy gap want do so by applying renewable technologies.
This creates a solid business potential for wind and solar projects, which a new company, Nordic Power Partners, hopes to profit from in addition to contributing to reducing global warming and enhancing Danish companies’ sales in the green global market.
The first investment
Nordic Power Partners was established in cooperation with the Danish company European Energy and is the first investment made by the new Danish Climate Investment Fund.
The new company is to locate and develop wind and solar projects in developing countries and emerging markets. This includes identifying potential projects, designing the technical layouts, negotiating with local authorities, securing access to existing transmission networks and making power purchase agreements.
When the development of a project is completed, subsequent financing is either provided by the partners or it is sold to external investors.
European Energy has developed competences within all levels of the renewable energy value chain from greenfield development to operations of wind and solar farms. The company has developed 43 onshore wind farms and 15 solar farms in Europe. IFU has invested in close to 800 companies in 85 developing countries and has extensive experience in establishing and operating companies in countries where Nordic Power Partners plans to invest.
“The cooperation between The Danish Climate Investment Fund and European Energy is a perfect match, thanks to the good synergies we can create from our complementary fields of expertise”
Knud Erik Andersen, CEO of European Energy
Danish technology involved
The development of solar and wind farms opens up new markets for Danish trade and industry. Danish companies with the right and relevant technologies will have better and easier access to developing countries and emerging markets, when projects are developed by Nordic Power Partners.
– Obviously, Nordic Power Partners will engage with Danish suppliers and offer them an opportunity to enter new markets with a large potential. And if the Danish companies are competitive they stand a fair chance, said Torben Huss, Executive Vice President of IFU.