Nordic developer Eolus has signed an agreement to acquire seven wind farms in early development phase totalling 450MW in Sweden from Vindkraft Varmland.
Eolus said six of the projects are located in the SE3 and one in the SE4 electricity price areas.
The final purchase price is dependent upon how the projects develop and is covered by a profit sharing with the seller when the projects a realised, Eolus said.
The company has also signed an agreement with the option of acquiring three projects in SE3 in early development phase comprising of up to an additional volume of 280MW.
Eolus head of origination Gustav Grumert said: “We are seeing a large interest for projects within SE3 and SE4.
“We are pleased to add these projects in early development phase to Eolus’ Swedish portfolio.”
The acquisition is the first within the new origination function established in January 2020, Eolus said.
“The objective of the origination function is to strengthen the early project development by identifying strategic collaborations with landowners, acquiring projects under development, evaluate new geographical markets and asses earlier Eolus projects that have been downgraded,” it added.