Enercon has signed an agreement with Eolus and Hydro Rein to sell the fully permitted up to 260MW Stor-Skalsjon wind farm in Sweden for €17m.
The project, located in Sundsvall and Timra municipalities in SE2, will be covered by a 12-year pay-as-produced power purchase agreement with Hydro.
Hydro Rein and Eolus will own 49% and 51%, respectively.
The partners have agreed to divest the majority of the project shares, and a sales process will be initiated during the summer.
Supplier contracts will be entered during autumn this year and commissioning is expected to commence during the second half of 2023.
Hydro will manage the balancing and all handling for the produced electricity.
The project has a signed grid connection agreement, and the connection will be completed during summer 2021.
Construction of internal roads and hard stands have been started by Enercon and coming civil works a new balance of plant agreement will be executed by Eolus and Hydro as well as a new turbine supply and operations and maintenance agreement.
Enercon will also be compensated for conducted construction works, on top of the purchase price.
Eolus chief operating officer Marcus Landelin said: “We are very pleased to be able to form this partnership with Hydro Rein and look forward to the cooperation in constructing Stor-Skalsjon.
“With the PPA and the ownership by Hydro we can offer an attractive investment opportunity in the Swedish renewable electricity sector.”
Hydro Rein head Olivier Girardot said: “This project is an important step in the development of Hydro Rein’s portfolio in the Nordics and towards our ambition to invest in 1GW of projects by the end of 2021.
“We look forward to developing this project jointly with Eolus, which has a strong track record in wind project development in Sweden.”