Eolus expands Swedish wind PPA, sees delay in Norwegian project

Sweden’s Eolus Vind AB (STO:EOLU-B) said on Friday it has expanded an existing wind power off-take deal bundle at home to 117 MW and announced a new completion date for a 400-MW onshore wind farm it is building for Aquila Capital in Norway.

The wind project developer has contracted the entire output of three wind farms in Sweden, namely the 74-MW Skallberget/Utterberget, 25-MW Tjarnas and 18-MW Rosenskog.

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At the start of this year, Eolus signed individual power purchase agreements (PPAs) with a “major global energy company” to procure 68 MW from the 24-MW Boarp, 26-MW Dallebo and 18-MW Rosenskog wind projects. The new arrangement replaces Boarp and Dallebo with Skallberget/Utterberget and Tjarnas, while keeping Rosenkog.

All three wind farms are expected to become operational in 2023.

Meanwhile, Eolus said that the completion of the 400-MW Oyfjellet onshore wind project in Norway will be postponed to the first quarter of 2022 due to unfavourable weather and logistic hurdles caused by the COVID-19 pandemic that led to delays in the delivery of components.

So far, all of the wind farm’s 72 turbines have been installed and first power has been produced by 34 machines.

The Swedish group developed the 400-MW project and sold it to Hamburg-based investor Aquila Capital in December 2020. It noted that the construction delay is expected to have an adverse effect on its profit margin.