A fund managed by BlackRock has agreed to buy the 115MW Svartnäs wind farm in Sweden from Arise.
Arise exercised an option to acquire the project from Bergvik Skog and subsequently entered into the agreement to sell it to Blackrock.
The wind farm, which will be located in Dalarna County, will feature 32 Vestas V136-3.45MW turbines optimised to 3.6MW.
Delivery of the first machines is expected in the third quarter of 2018, with commissioning in the fourth quarter.
The Vestas contract includes supply, installation and commissioning and a 20-year active output management 5000 full scope operations and maintenance service agreement.
Arise will manage construction, which will start in August, and operate the project when it comes online in early 2019 on behalf of Blackrock.
The total cost of the wind farm is approximately €130m, which will be funded by Blackrock.
BlackRock managing director and head of renewable power for Europe Rory O’Connor said: “We view the Swedish renewables market, and the Nordic region more widely, as an attractive market for wind projects.”
Arise chief executive Daniel Johansson said: “We look forward to exploit more opportunities with BlackRock in the future and are very happy to construct and manage assets on their behalf in Sweden and Norway.”
Image: Arise
