The project’s total construction funding is around €350 million ($413 million) and will be partially funded by non-recourse project financing while financial close is expected to be finalized in the coming months.
“The cost of renewable energy is going down, which is making the market more competitive and creating new opportunities. 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,” said Anders Runevad, President and CEO of Vestas.
The project has been developed by Vattenfall and consists of 84 V136-4.2 MW turbines to be installed across the Blakliden and Fäbodberget wind parks located in Åsele and Lycksele Municipality in central Sweden. Blakliden and Fäbodberget wind parks will consist of 50 and 34 turbines respectively.
“It is highly gratifying that we can now continue our expansion of onshore wind farms in Sweden. Blakliden/Fäbodberget represents an important step in our strategy to become fossil free within one generation. It is also important for Vattenfall to demonstrate that we are making a major investment in renewables in Sweden,” said Magnus Hall, President and CEO of Vattenfall.
Having previously invested in five offshore wind parks, PKA’s first investment in onshore wind underlines the attractive investment case onshore wind energy offers from a pension fund’s perspective.
Nils de Baar, President of Vestas Northern and Central Europe concluded, “Both Vattenfall and PKA have strong track records within sustainable energy and we are honored to partner with them on a project that exemplifies how Vestas’ solutions meet the full scope of our customers’ challenges, including financing.”
The order includes supply and installation of the wind turbines as well as a 25-year Active Output Management (AOM 5000) service contract. Turbine delivery is expected to begin in first half of 2021 with full commissioning planned for fourth quarter of 2021.
