Energy infrastructure is capital-intensive, and in the Nordics, development timelines for new projects are long. Success requires financial expertise and strength, local presence, deep market knowledge and an understanding that value is created over a long period.
That is why, in 2020, we raised capital from a family office and in 2022 from two large insurance and pension companies (press release). Since then, Fu-Gen has had a broad ownership structure in which no single owner holds a majority. The insurance and pension companies are passive owners and natural investors in energy infrastructure which require large capital and long investment horizon. Wind farms operate for decades, and our investors think just as long-term. That is why we were able to keep investing in Nordic energy projects even when many others stepped back.
Recent years have been financially challenging for the Nordic wind industry. Fu-Gen has stood firm as the owner of its wind farms and continued to develop new projects in Sweden with local teams. Since 2024, we have, among other things, developed and divested battery storage projects totalling 360 MW (press & news), mainly in Finland. We have used the proceeds to finance new energy projects and employ our local teams which we see as the core value of the company.
Demand for clean electricity at reasonable prices will continue to grow, not least as industry transforms. We want to help meet this demand: as entrepreneurs, as long-term owners and as an engaged part of the communities where our wind farms are located.