European Energy buys 85.8-MW wind, solar portfolio from Vattenfall

Wind turbines. Image by: Vattenfall AB.

Danish wind and solar developer European Energy A/S has acquired an 85.8-MW portfolio of wind and solar assets from Swedish state-owned utility Vattenfall AB.

The bundle consists of eight wind and photovoltaic (PV) sites located in Denmark, Germany, the Netherlands and the UK, the vendor said on Wednesday without providing financial details about the transaction.

More specifically, European Energy has bought 57.8 MW of commissioned wind and PV assets and 28 MW of solar projects that are currently under development and are slated to go live in 2022. Details are available in the table.

Project name	Capacity	Technology	Location
Rya	7.5 MW	Wind	Denmark
Hollandsbjerg	16.5 MW	Wind	Denmark
Janschwalde	12 MW	Wind	Germany
Enkhuizen	2.4 MW	Wind	Netherlands
De Bjirmen	6 MW	Wind	Netherlands
Parc Cynog Wind and Solar Farm	5 MW solar, 3.6 MW wind	Wind, Solar	UK
Park Pendine	4.8 MW	Wind	UK
In development	28 MW	Solar	Undisclosed

The sale is aligned with Vattenfall’s plan to enhance its onshore fleet by cutting the number of different turbine types and increasing the standardisation of technology and servicing platforms. “Vattenfall’s goal is to make fossil fuel-free living possible within one generation. To do so requires also strong focus on process and portfolio optimisation,” said Sandra Grauers Nilsson, Vattenfall’s Head of Onshore Wind.

The Swedish utility added that the divestment will enable it to better focus on its major wind parks in operation and under construction and will open up financial space for more investment in the onshore wind sector.

Following the deal, European Energy will take over the day-to-day operations of the power plants.

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