Vestas Partners with Vattenfall and PKA for Wind Energy project in Sweden (Realtid.se)

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With wind energy becoming the lowest cost of energy solution in many markets, the global wind energy market is expanding and creating new opportunities that involve new customer segments, partnership constellations, technology solutions and financing structures. As the global leader in wind energy, Vestas continues to be highly involved in this evolution and is together with key partners developing solutions that address a wind park’s full value chain and hereby maximise return on investment and profitability.

Highlighting this development, Vestas has today entered into a partnership with Swedish utility, Vattenfall, and Danish pension fund, PKA, for a 353 MW wind energy project in Sweden. For the project, which is PKA’s first investment in onshore wind, Vestas will provide 353 MW of V136-4.2 MW turbines as well as become a shareholder through a share purchase agreement for 40 percent of the project. PKA and Vattenfall will own 30 percent project equity each. The project’s total construction funding is around EUR 350m and will be partially funded by non-recourse project financing while financial close is expected to be finalised in the coming months.

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