The TD Greystone Infrastructure Strategy (the "Strategy") is pleased to announce the expansion of its battery storage portfolio through its wholly owned European renewable energy platform Rabbalshede Kraft. The Strategy is excited to be able to continue to support the company's growth and its mission to be a leader in the shift to green energy.

Rabbalshede Kraft is undertaking the construction of a 20 MW battery, co-located at the Femstenaberg wind farm (located in Strömstad, Sweden) in fall 2024 with the aim of commissioning the facility in spring 2025. Alfen, an established player with a strong sustainability profile and extensive experience in batteries and power electronics, will supply the battery. In addition to supplying the battery, Alfen has also entered into a 10-year service agreement with Rabbalshede Kraft for monitoring and maintenance, which ensures long-term operational reliability and efficiency.

"The team at Rabbalshede Kraft continues to deliver high-quality projects that are accretive to the Strategy and support the goals of all stakeholders," said Jeff Mouland, Managing Director and Head of Global Infrastructure Investments at TD Asset Management Inc. "As a long-term investor, the expansion into new technologies that support the shift to renewable energy provides diversification for our clients."

Founded in 2005 and headquartered in Sweden, Rabbalshede Kraft is a well-established and long-term player in the Nordic renewable energy market. Historically concentrating on wind power, its strategic focus has shifted to becoming a versatile renewable energy company that also develops solar energy, green hydrogen production, and energy storage solutions across Northern Europe.

The Strategy has a track record of scaling up renewable technology platforms like solar, wind and battery, which currently represents 58% of the Strategy. These platforms include Enfinite, which has been built into the largest operator of battery storage in Canada with a total storage capacity of 180 MW and there are additional plans to more than double battery storage over the next 3 years. Overall, the Strategy's expansion of Rabbalshede Kraft into battery storage provides an opportunity to further diversify its renewable technology exposure.

For more information on the TD Greystone Infrastructure Strategy, please click here.

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