Gothenburg Port Authority has purchased a minority share in Eolus’s unbuilt 1GW Västvind offshore wind farm in Sweden.
It will take a 5% stake in the operation, with SEK 15m set aside to cover the acquisition and further partial financing of Västvind’s project costs.
Developer Eolus will retain the remaining 95% ownership.
The transaction will enable the port group to tap into a supply of green electricity as it aims to decarbonise its operations.
“The Port of Gothenburg’s strategy is to lead the green transition of maritime traffic, but this position will not come about without some effort,” said Gothenburg Port Authority chief executive Elvir Dzanic.
“Access to green electricity will be entirely crucial for the port’s development and competitiveness. Investing in electricity production is therefore a strategic decision for us.”
Västvind is expected to become operational around 2029. A permit application is due to be submitted later this year, with construction targeted to commence in 2027.
Eolus chief executive Per Witalisson said: “Regional renewable electricity generation is an integral and necessary part of the green transition in both the transportation sector and industry in western Sweden.
“It is therefore both natural and strategically important that the Port of Gothenburg is part of Västvind.”