RES sells the wind power portfolio in Sweden to Prime Capital
The British company Renewable Energy Systems (RES) has agreed sell their Lycksele project portfolio in Sweden to the German investment company Prime Capital.
The portfolio of 290 MW includes the wind energy projects Fjällberg, Hornmyran and Vinliden.
These projects are expected to come online in 2025 and will be sold for an undisclosed sum.
Prime Capital official Dr Mathias Bimberg said: “Lycksele is already the third joint project with RES and another recognition of the good and reliable partnership between the parties.
“It is an important part of our strategy to invest in both the production of hydrogen/e-methane and the underlying production capacity for green electricity, and is needed more than ever to ensure sustainable energy security in Sweden and Europe.”
RES began in 2007 to develop the Lycksele portfolio in Västerbotten County. It will include 45 wind turbines in the three projects.
The portfolio is expected to deliver almost 1TWh of clean energy per year to both the region and the wider European market.
Through the development agreement, RES will help Prime Capital make the portfolio ready for construction by next year.
Once operational, RES will also provide asset management services for the portfolio.
RES Nordic CEO Matilda Afzelius said: “We are delighted to partner with Prime Capital again as they expand their investment in the Nordics and look forward to supporting them in bringing the Lycksele portfolio online.
“We value working with a partner who shares our vision of the future of the Swedish energy market, and a focus on creating synergies between the renewable energy sector and industry to provide greater value to the economy.”
Earlier this month, RES was granted permission to build its Spennymoor Energy Storage System in County Durham, UK.
The 99.9 MW facility will store electricity when production exceeds demand, as well as release power to the grid when demand exceeds production.