Norwegian company Cloudberry Clean Energy has entered into an agreement to sell 50% of the shares in Cloudberry Offshore Wind to Hafslund to form a joint venture.
The transaction is expected to close in September.
The parties will also work together with the aim of reaching a final investment decision later this year on the 100MW shallow-water Stenkalles Grund wind farm on Lake Vanern in south-central Sweden.
Ventolines will remain active in the execution of the project and is currently working on the final negotiations with the main suppliers.
Hafslund is Norway’s second largest power generator, owned by the City of Oslo.
Cloudberry chief executive Anders Lenborg said: “The partnership with Hafslund brings together two local parties which share the ambition to realise the first non-subsidized offshore wind project in Sweden.
“Hafslund has an experienced organization, a strong balance sheet and operational know how that will help improve the total economics and reduce the project risk.”
Hafslund deputy chief executive Martin Lundby said: “Stenkalles Grund is an exciting project that allows Hafslund to rapidly establish presence in the Swedish power market.
“It will bring new renewable power to the market already by 2025.
“We are impressed by Cloudberry’s efforts in developing the project and look forward to the collaboration towards FID and realization of Stenkalles Grund.”