Vattenfall is buying 85% shares in Zephyr’s 2800MW Vidar and Poseidon offshore wind farms planned to be built off the coast of Gothenburg, Sweden.
Once fully developed, the projects, which will primarily consist of floating wind turbines, are expected to generate 10.5 terrawatt-hours of electricity annually, Vattenfall said.
Zephyr’s plans to sell stakes in the wind farms was first reported in the subscriber-only newsletter reNEWS.
Vidar and Poseidon will be located between 25 and 27km off the Swedish west coast, north of Gothenburg.
Together with Zephyr, the early stage projects will be further developed and the necessary permits for establishment applied for.
Vattenfall head of business area wind Helene Bistrom said: “Vattenfall aims to enable fossil-free living and to support industries and society at large on the Swedish west coast by providing more renewable electricity and this is an important step towards that target.
“These two projects will add significant volume of cost-effective fossil free electricity in an area with high demand.
“They will also support our development of the important floating technology which is expected to reduce the environmental impact of the wind farms, as well as enable offshore energy production at sites further away from shore.”
Zephyr Renewable chief executive Martin Pettersen said: “Zephyr is delighted to be able to continue with the development of the Poseidon and Vidar projects together with Vattenfall.
“There is a pressing need to ensure that new electricity generation can become a reality in southern Sweden, both for the climate and our society, which is facing a sharp increase in electricity consumption.
“Poseidon and Vidar, as large-scale offshore wind power projects, are in a good position to contribute significantly towards this.”