Eolus, Hydro REIN jointly acquire 260 MW Stor-Skalsjon wind project

Eolus together with Hydro REIN has signed an agreement to acquire the fully permitted wind power project Stor-Skälsjön from Enercon. The project, located in Sundsvall and Timrå municipalities in Sweden, totals up to 260 MW and will be covered by a 12-year PPA with Hydro.

Hydro REIN and Eolus will own 49 and 51 percent, respectively. The partners have agreed to divest the majority of the project shares, and a sales process will be initiated during the summer. Supplier contracts will be entered during autumn this year and commissioning is expected to commence during the second half of 2023.

As part of the agreement, Hydro will sign a Pay-as-produced power purchase agreement with a 12-year tenor. Hydro will also manage the balancing and all handling for the produced electricity. The project has a signed grid connection agreement, and the connection will be completed during summer 2021. Construction of internal roads and hardstands have been started by Enercon.

The purchase price for the project rights amount to EUR17 million (US$20.3 million) and Enercon will be compensated for the conducted construction works.