Cloudberry Clean Energy has secured the 18MW late-stage development Munkhyttan Vindkraft onshore wind farm located in municipality of Lindesberg in Sweden.
The company said it is in final stage negotiations with the German turbine supplier Eno-Energy for three 6MW turbines.
Cloudberry has also secured an option, on the same terms, for the 18MW Munkhyttan 2 project.
The permit process for the second phase is already initiated, it said.
The company said it will work closely with local stakeholders and the preferred turbine supplier Eno-Energy to reach a commercial operation date in 2023/2024.
Cloudberry Clean Energy chief value officer Christian Helland said: “This acquisition fits our strategy very well.
“The project is highly cost-efficient with an expected production of about 60 gigawatt-hours per year.
“The expected IRR for the project is well above 10% per annum for the full life cycle (of) 30 years.
“Total capex, including development cost is below Skr4 per kWh due to a favourable layout, grid, and turbine efficiency.”