Wood and Luxcara agree collaboration on energy transition opportunities

Luxcara, one of the most experienced renewable energy asset managers in Europe, and Wood, a leading global consulting and engineering company, have formally agreed to collaborate on energy transition investment opportunities.

Under the framework agreement, the parties undertake to work together to identify, structure and stress-test new energy transition investment opportunities, including floating offshore wind, hydrogen, bio-methanol and batteries. The two companies have a proven track record successfully working together on the Önusberget wind farm, a 750 MW landmark project in Northern Sweden. Luxcara acquired the project for a portfolio of institutional investors which the company advises and appointed Wood as construction manager. The partnership has since been expanded to also cover due diligence on investment opportunities in innovative technologies across Europe. Under the new framework agreement, Luxcara will investigate the opportunity to potentially invest in assets across the energy transition value chain in the future with Wood’s technical support, ranging from development work and due diligence services to engineering and construction management.

Alexandra von Bernstorff, Managing Partner of Luxcara, commented: "In these uncertain times, it is more important than ever to be able to rely on your partners. We value our excellent collaboration with Wood and are happy to partner with this seasoned technical expert for many more projects, as we expand our portfolio to cover the entire energy transition value chain for our institutional investors.”

Azad Hessamodini, Executive President of Wood Consulting, said: “We are delighted to strengthen our relationship with Luxcara to collaborate and deliver clean energy to the European market and beyond. As a trusted partner for wind energy developers, investors and operators worldwide, this agreement underscores the important role we play in providing technical advisory solutions to facilitate the appropriate capital allocation necessary on our journey towards net-zero and delivering the best outcomes for clients, investors and society.“