+44 (0)20 7930 4158POPULAR TOOLS
Fortum invests in USD512m Swedish wind farm
Finnish energy firm Fortum is paying an undisclosed amount to acquire a 40% stake in a Swedish wind power project. The remaining 60% of the Blaiken wind farm, in the north of the country, will be owned by Swedish energy firm, Skelleftea Kraft. The project will have a 250MW capacity and is expected to cost up to EUR400m (USD512m).
Deal Details
- Status completed
- Buyer Fortum
- Seller Skelleftea Kraft
Construction of the 100-turbine project will begin next year and is scheduled for completion in 2015. A study conducted by UppsalaUniversity found that the Blaiken region’s wind conditions are particularly good during the winter months, when electricity demand is at its peak. Skelleftea began planning work on the wind farm in 2005.
Earlier this year, Fortum teamed up with Babcock-Hitachi to commercialise carbon capture and storage (CCS) technologies. The pair are working to develop a low-cost, high-efficiency oxyfuel combustion system.
