Sweden's Alecta completes first direct investment in green energy firm

On the 04/01/21 at 11:25AM


Adrien Paredes-Vanheule

Swedish pension fund Alecta now holds 20% of onshore wind producer Stena Renewable AB.

Alecta, managing SEK 1trn (€97.5bn) in assets, has made its first direct investment in green energy infrastructure by entering Stena Renewable AB's capital. The pension company thus becomes the second largest shareholder of the Swedish onshore wind firm with a 20% stake. Its investment consists of a direct investment of SEK 1bn (€97.5m) and commitments of SEK 600m (€58.5m) over a five-year period. Stena Renewable AB runs several onshore wind parks in the southern regions of Sweden, producing 315 megawatts (MW) and with close to 600 MW under construction. Stena Renewable is projected to have close to 900 MW in production by 2024. 

In the last two years, Alecta has poured around SEK 10bn in infrastructure assets in a bid to increase its portfolio's real assets share to 20% of the fund's total assets under management. Commenting on the operation, Alecta's portfolio manager Johanna Strömsten said, We feel really excited about this investment, for several reasons. Stena Renewable AB is a well-reputed firm with a long and successful track-record in its field. It is an investment in green energy and thus in the transition to a net-zero economy. Since the wind parks are located in Sweden, the energy will also power the homes and businesses of our customers. We are looking to make more investments like this, nationally as well as internationally.

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