Fortum, Skelleftea Kraft to swap stakes in 2 Swedish wind farms

Finnish utility Fortum Oyj (HEL:FORTUM) plans to take full control of one Swedish wind project while exiting another in an asset swap transaction that will not lead to a significant change in owned capacity.

More specifically, Fortum will take the 50% interest it does not already own in the 76-MW Solberg wind farm from Skelleftea Kraft. At the same time, it will transfer to the municipality-owned power company its 37-MW share, or 15%, of the 248-MW Blaiken wind park.

Fortum explained in a statement that the proposed transaction would simplify the ownership structure and just slightly affect its cash flow and results. The move is seen to be finalised at the start of the third quarter, subject to clearance by Fortum’s board of directors and the municipal council of Skelleftea.

The Solberg wind farm is located in northern Sweden’s Vasternorrland county and consists of 22 Vestas turbines that generate about 253 GWh of total electricity per year. Blaiken, in turn, is located in Vasterbotten county and comprises 99 turbines capable of producing 714 GWh annually.

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