NH-Amundi Asset Management Signs MOU for Joint Investment in Swedish Onshore Wind Power with Korea Western Power

[Asia Economy Reporter Minji Lee] NH-Amundi Asset Management announced on the 12th that it has signed a Memorandum of Understanding (MOU) with Korea Western Power to jointly invest in a 240MW onshore wind power project in Sweden.

Baek Young-hoon, CEO of NH-Amundi Asset Management (third from the left), and Kim Byung-sook, President of Korea Western Power (second from the left), signed a Memorandum of Understanding (MOU) on May 8 / Photo by H Amundi Asset Management

The signing ceremony held on the 8th was attended by Younghoon Bae, CEO of NH-Amundi Asset Management, and Byungsook Kim, President of Korea Western Power. Both companies agreed to mutually cooperate for the successful completion and operation of the project. They also decided to continue collaboration in various fields related to overseas investment projects based on their partnership.

The project is located in central Sweden and is under construction with the goal of completion in the second half of this year. A 29-year long-term strategic sales contract has been finalized, ensuring stable operation. Korea Western Power will participate as a strategic investor and will manage the assets and O&M services after the power plant’s completion.

Since entering the alternative investment sector in August 2015, NH-Amundi Asset Management has achieved remarkable growth in assets under management, rising to 5th place in the industry based on special asset AUM. Its overseas infrastructure investment portfolio, which accounts for the largest portion of its AUM, manages diverse assets worldwide including power generation, midstream, renewable energy, and terminals across North America, Western Europe, Northern Europe, and Australia.

Younghoon Bae, CEO of NH-Amundi Asset Management, stated, “In response to increasing market uncertainties, we plan to further expand alternative investments capable of generating stable returns,” adding, “In line with the trend of eco-friendly energy transition, we will actively explore renewable energy projects in the overseas infrastructure sector.”

This content was produced with the assistance of AI translation services.