Energy trader Danske Commodities has signed a balancing agreement for a 277MW Swedish wind farm.
Under the agreement, Danske Commodities will provide market access and balancing services for the Kolvallen onshore wind farm.
The site has been developed by Arise and is also managed by the Swedish wind player.
The wind farm is majority-owned by Foresight Energy Infrastructure Partners (91%) and Arise owns the remaining 9% stake.
The project will reach commercial operation in 2025.
Sweden is scaling up its renewable energy generation and by 2040, the country aims to reach 100% renewable electricity production.
With the influx of renewables in the Swedish energy mix, the need for balancing increases.
Head of Nordic & Polish origination at Danske Commodities Kalle Kastan said: “We are proud to announce our balancing agreement with Kolvallen wind farm.
“Danske Commodities has a proven track record in balancing assets with intermittent energy generation, benefitting from our market-leading capabilities within algorithmic trading and weather analysis.
“Last year, we entered the Swedish renewables market with a balancing agreement for 235MW wind, and we want to continue growing our portfolio of renewable energy in the region.”
Danske Commodities manages a power portfolio of 12GW across Europe in close collaboration with its customers consisting of energy producers and industrial consumers.