Captiva Asset Management AS and the Swiss utility BKW AG have agreed to establish the joint venture Proxima Scandinavia AS as an independent service provider. Proxima will target the growing downstream service market for renewables in Norway and Sweden.
Captiva is very pleased to announce the expansion of our ongoing cooperation with BKW.
Proxima Scandinavia AS will deliver services in late stage project development, project construction, technical and commercial management and operations and maintenance in Norway and Sweden. Initially for wind power only. The joint venture will combine Captiva’s local presence and experience from project development and construction, with BKW’s extensive technical and commercial experience from operational assets across Europe.
New renewables in Norwegian and Swedish, primarily onshore wind, have since the late 2000s expanded rapidly, and is set to continue to grow. This development has primarily not been driven by the traditional local utilities. The partners believe that this combination of strong underlying growth and a new asset ownership environment will create a demand for independent third party service providers, as has happened in the mature markets of Germany and Denmark.
The BKW group is an international energy and infrastructure company employing some 4500 people and is headquartered in Bern, Switzerland. Within wind power, BKW has the operational responsibility for 538.3 MW, both owned by BKW or for third parties. In Scandinavia they are a partner in the 1000 MW Fosen project in Norway. With the support of Captiva, BKW is the industrial partner for the financial consortium headed by Credit Suisse owning 40 % of the Fosen project.