Greencoat Renewables buys the first wind farm in Sweden
Investors in renewable energy Greencoat Renewables has bought a wind farm of 101.1 MW in Norrbotten from Enercon, the company’s first business in Sweden.
The Ersträsk South wind farm consists of 26 Enercon E103 and 10 Enercon E126 turbines and was commissioned in January this year.
Enercon will continue to provide long-term operation and maintenance services for the wind farm.
Today’s business expands Greencoat’s business presence in the Nordic region, which benefits from the opportunity to develop projects for renewable energy on an unsubsidized basis.
Ersträsk South is part of a large emerging cluster of renewable production in Markbygden, with a potential installed capacity of 4GW.
Greencoat said that the wind farm is contracted as a commercial asset that exports electricity to Nordpool but has the flexibility in the future to contract the electricity produced via a company’s PPA.
Paul O’Donnell, Partner at Greencoat Capital, the company’s investment manager, said that it is an important milestone for Greencoat to secure the company’s first asset in Sweden and expand its presence in the Nordic region.
“Sweden is becoming a major hub for green energy, with the combination of low-cost production, significant development capacity and a number of attractive routes to the market, including access to Nordpool and a fast-growing corporate PPA market,” O’Donnell said.
“We are pleased to secure such a high-quality asset from Enercon and are well positioned to take advantage of future market opportunities,” he added.