E.ON to build 475MW onshore wind farm in Sweden
November 20, 2018 – German energy company E.ON, in a joint venture with Swiss investment manager Credit Suisse Energy Infrastructure Partners (CSEIP), will construct a 475MW onshore wind farm at Nysäter in Sweden.
Credit Suisse Energy Infrastructure Partners is a financial investor dedicated to the energy sector.
A fund advised by CSEIP will hold 80% stake in the joint venture, while E.ON will build and operate the wind farm under a long-term operations and maintenance (O&M) agreement and retain a 20% equity stake in the project.
The total investment amounts to around €500m.
One of the largest onshore wind farms in Europe, the project is supported by a power purchase agreement (PPA) signed with a global energy major providing a range of risk management and other services to the project.
The agreement highlights the shift toward renewable energy PPAs in Europe.
The Nysäter project is located in the Västernorrland district of central Sweden close to Sundsvall, an area with excellent wind conditions.
Construction on Nysäter wind farm is scheduled to start in 2018 and is expected to be completed by the end of 2021.
The Nysäter wind farm will be equipped with 114 turbines from German manufacturer Nordex.
The output of the turbines varies between 3.9MW and 4.4MW depending on the location and will have a tip height of up to 220 metres.
E.ON climate and renewables CEO Anja-Isabel Dotzenrath said: “It is part of our strategy to expand our position for onshore wind energy in Europe. Nysäter means a significant expansion of our Scandinavian portfolio.
“The project also demonstrates our ability to successfully develop and commercialize large-scale projects worldwide.”
In 2018, E.ON is bringing wind projects in the Baltic Sea, the North Sea, Italy, and the US to the grid with a total capacity of around 1,000MW, equivalent to the installed capacity of a nuclear power plant.