o2

In the field of renewable energy, Proventus has in partnership with the Swedish renewable energy group o2 Vind formed o2 Produktion, a leading producer within renewable energy focusing on wind power. Proventus also holds a minority position in o2 Vind. Foundation Asset Management joined the investment in 2008.

As fossil fuels approach peak levels, we will need to seek alternative sources of energy. Wind power is still in need of subsidies, but we believe that over time it will be an efficient technology that has the potential to replace some of the capacity of the increasingly obsolete methods.

o2 Produktion operates four wind farms with a total annual production exceeding 200 GWh. Three mid-size wind farms are located in Dalarna, central Sweden: Röbergsfjället (8 wind mills), Hedbodberget (5 wind mills) and Säliträdberget (8 wind mills). The large scale wind farm Bliekevare (16 wind mills) is located in Västerbotten. This makes o2 Produktion the largest on-shore wind power producer in Sweden.

Proventus’ partner in this venture, o2 Vind, is actively present in all stages of wind power development including development of wind power sites, wind-generated electricity production and wind energy retail business. o2 Vind has since inception in 1991 developed more than 25 per cent of Sweden’s total wind energy production measured in megawatt.

Read the press release issued on March 30, 2007
Read the press release issued on February 12, 2008