- Press Releases
June 20 (Renewables Now) - Swedish state-owned utility Vattenfall AB said today it is buying an 85% stake in two early-stage offshore wind projects in Sweden with an expected total capacity of 2.8 GW.
Vattenfall is acquiring the majority holding in the developments, dubbed Vidar and Poseidon, from Norwegian renewable energy company Zephyr.
Zephyr, which is owned by the Norwegian publicly owned power companies Østfold Energi, Vardar and Glitre Energi, will keep the remaining 15% in the projects. Vattenfall and Zephyr will together further develop the projects and apply for the needed permits.
Located between 25 kilometres (15.5 miles) and 27 kilometres off the western Swedish coast, north of Gothenburg, the two projects will be mainly made up of floating wind turbines and are expected to generate 10.5 TWh a year.
Helene Bistrom, head of business area Wind at Vattenfall, said the projects will help the company provide more renewable electricity to industries and society on the Swedish west coast. “These two projects will add significant volume of cost-effective fossil free electricity in an area with high demand,” the executive added.