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Vattenfall has announced that Vestas and PKA, the Danish pension fund, are investing in the Blakliden/Fäbodberget wind project in Sweden. The project involves the development of two wind farms in Västerbotten County in the north of the country, with a combined generation capacity of 353 MW.
The Blakliden wind farm will be installed in the Åsele municipality with 50 turbines. The Fäbodberget wind farm, located in the Åsele and Lycksele municipalities, will contain 34 turbines. Together, the two farms will generate enough renewable energy to supply 220,000 Swedish homes with electricity.
Vestas and PKA have signed share purchase agreements for 40% and 30% ownership stakes of the project, respectively, leaving Vattenfall with the remaining 30% equity. This marks PKA’s first investment in onshore wind.
Vestas will also provide the turbines for the project, 353 MW of its V136-4.2 MW model. The order includes supply and installation of the wind turbines as well as a 25-year Active Output Management (AOM 5000) service contract. Turbine delivery is expected to begin in first half of 2021 with full commissioning planned for the fourth quarter of 2021.
The project’s total construction cost is around EUR350 million (US$413.15 million). It will be partially funded by non-recourse project financing with financial close expected to be finalised in the coming months. Following this, a 20-year power purchase agreement (PPA) with Norsk Hydro will be closed. The company will purchase around 60% of the project's output.
The construction phase of the project is now starting. Once operational, it will be one of Sweden's largest onshore wind farms and the largest wind project in Vattenfall's portfolio.
Vattenfall plans to invest SEK1 billion (US$120.8 milion) in developing new solar power plants, primarily large-scale, during 2018-2019. In addition, Vattenfall will provide small-scale solar solutions for customers. The investments support Vattenfall's objective to become fossil-free within a generation.
Read moreEolus has signed an agreement with Aquila Capital regarding the sale of the wind farms Kråktorpet and Nylandsbergen, which collectively comprise 61 wind turbines with a combined installed capacity of 232 MW. The wind farms are located in Sundsvall, in the north-east of Sweden.
Read moreOX2 has announced that the financing of Valhalla project comprising 85 wind turbines has been successfully completed. Aquila Capital will acquire the project which OX2 will deliver as an EPC contract. It will be one of the largest onshore wind farms in Europe.
Read moreThe Marguerite Fund has raised €29.25 million (US$34.54 million) of 15-year non-recourse debt from German bank Norddeutsche Landesbank (NORD/LB) for the construction of its all-equity acquisition of the 46.8MW Grimsås onshore wind project in Sweden. It acquired the project from Element Power and Kraftö Vind on June 15, 2017.
Read moreInfranode has achieved final closing on its first fund reaching SEK4.45 billion (US$524.68 million) with AP4 joining an already strong group of local pension funds and the European Investment Bank (EIB). The capital will be invested long-term in Nordic infrastructure.
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