Magnora closes 24% stakes in Kustvind offshore wind farm project

Magnora ASA has increased its stakes in the 500 MW Kustvind shallow-water offshore wind farm project in southern Sweden after closing a total of 24% stakes in the project. 

In 2020, Magnora has closed a 5% interest in the project with the target ownership in the investment vehicle Kustvind AB to reach up to 50%. 

The Sydkustens Vind project involves the development of a wind farm located in the Baltic Sea, roughly 8 km offshore the southern coast of Sweden. It has a 500 megawatt (MW) potential and a production capacity of 2 TWh annually, serving 250,000 homes with electricity.