ENGIE and SUSI have signed the financing agreements for Project Tonstad, a 208MW wind farm in Norway selling power under a 25-year offtake agreement with aluminium producer Hydro.
Project Tonstad is located in the municipalities of Sirdal and Flekkefjord in the South of Norway and will have a capacity of 208 MW consisting of 51 turbines supplied by Siemens Gamesa Renewable Energy. ENGIE developed the project and will continue to manage the construction and provide operational support to the windfarm, retaining a 20% stake in the project. SUSI Partners AG (SUSI) provided financial structuring support and the SUSI Renewable Energy Fund II will be the majority investor in the wind park with a stake of 80%. Hydro Energi signed a green Power Purchase Agreement (PPA) to offtake all the electricity produced for 25 years.
