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Vestas to buy stake in 353MW onshore wind project in Sweden

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Danish wind turbine-maker Vestas has agreed to buy a stake of 40% in the 353MW Blakliden/Fäbodberget wind project in Sweden.

Swedish utility Vattenfall and PKA will own a stake of 30% each in the wind project. For this project, which is divided into two parts, Blakliden and Fäbodberget, Vestas has also agreed to supply 84 of its V136-4.2 MW turbines for the wind farms.

The two wind farms Blakliden and Fäbodberget will be located in Åsele and Lycksele Municipality, respectively in central Sweden.

While the Blakliden wind farm will consists of 50 turbines, the other will feature 34 turbines. When operational in 2021/2022, clean electricity generated from the wind project will be enough to suppy to 220,000 Swedish homes annually.

A total cost of €350m is estimated to be required for the construction of the project, which will be partially funded by a non-recourse project financing and the financial close is expected to take place in the coming months.

Vestas president and CEO Anders Runevad said: “The cost of renewable energy is going down, which is making the market more competitive and creating new opportunities. In this dynamic market, we continue to leverage our deep expertise across the entire value chain to develop solutions with our customers that produce the lowest cost of energy.

“With our partners on this project, I believe we have shown our ability to tailor the right solutions and, in doing so, advance our business according to our strategy.”

Vestas’ order includes supply and installation of the wind turbines as well as a 25-year Active Output Management (AOM 5000) service contract.

The company expects to deliver the turbines to begin in first half of 2021 with full commissioning planned for fourth quarter of 2021.

A 20-year power purchase agreement with Norsk Hydro will be closed for the wind farm, subject to project financing being in place, Vattenfall said.

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