Gothenburg Port Authority buys minority stake in 1 GW Swedish offshore wind power project

The Gothenburg Port Authority has announced a 5% stake acquisition in Eolus Vind's Västvind offshore wind farm project in Sweden. The acquisition makes the authority a partner in the project, with Eolus retaining ownership of the remaining 95%. Västvind is an important step towards creating more domestic renewable energy sources, addressing the deficit in electricity generation in the area, with demand for electricity expected to double by 2035.

Located in the municipalities of Kungälv and Öckerö, and in the Swedish economic zone, the wind farm has an installed capacity of 1 GW and the potential to produce 4.5 TWh of renewable electricity annually. This is equivalent to the energy needed to power the entire city of Gothenburg. However, this project is not expected to be operational until possibly 2029.

The development of Vastvind contributes to Sweden's ambition to become a 100% renewable energy system by 2040, becoming one of the EU's first fossil-free welfare countries.