Aquila Capital has announced that it will acquire the 357MW Valhalla wind farm project in Sweden from development company OX2 for an undisclosed amount.
With the transaction, financing for the construction of the wind farm has been completed by OX2, which will construct the 85 turbine wind farm under an engineering, procurement and construction (EPC) contract.
The wind farm, which is expected to produce an average of 1.1TWh of clean electricity per year, will be located in the municipalities of Bollnäs and Ockelbo, in central Sweden.
The construction is expected to begin immediately and it is expected to be completed in the spring of 2020.
Aquila Capital CEO and co-founder Roman Rosslenbroich said: “Wind energy investments in the Nordics region are highly attractive investments and this project is especially remarkable due to the technical dimension and its performance features.
“Our proposition in the region is enhanced even further by the broad network of partnership we have built with leading market participants such as OX2 and Vestas. We are very happy about this cooperation.”
OX2 will continue with the contract for technical and commercial management of the wind farm after it becomes operational. The company stated that the electricity generated from the wind farm will be supplied under a long-term power purchase agreement with an undisclosed ‘high caliber-offtaker’.
The wind facility will include 85 of Vestas V136 turbines, each generating about 4.2MW. The average wind speed in the region is claimed to be 7.2 m/sec at the turbines’ hub height. The total annual electricity generated from the wind farm is enough to be supplied to 223,000 households with an average of 5000kWh per household.
OX2 Wind Managing Director Paul Stormoen said: “This is yet another attractive project resulting from Aquila and OX2’s successful partnership in recent years.
“We are delighted that Aquila is continuing to invest in Nordic wind power and especially proud that we are able to deliver a project as large and efficient as Valhalla.”
Image: Aquila Capital to acquire wind farm in Sweden. Photo: Courtesy of cristina Miguel/FreeImages.com.