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New St1 JV in Norway targets 900 MW of wind power

Wind farm in Norway. Author: John Christian Fjellestad. License: Creative Commons, Attribution 2.0 Generic

March 20 (Renewables Now) - Finnish energy group St1 has teamed up with Vindkraft Nord AS and Ny Energi AS to jointly develop two wind projects with a combined capacity of 900 MW in northern Norway.

The three partners have signed a deal to set up a joint venture called Grenselandet AS to manage the wind farms development project in the Lebesby and Tana municipalities in Finnmark county. In particular, it will work on the 700-MW Davvi farm scheme and on the 200-MW Borealis project, which would be a 50/50 partnership with Finnmark Kraft.

Initially, Grenselandet will concentrate on the environmental impact assessment, with plans to complete the work in up to three years. It will decide on the next steps after that.

The developers will consider the possibility of connecting the wind parks to both the Norwegian and Finnish grids.

St1 noted that this wind farm development project could be the first in Norway to be developed without government support.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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