September 26 (Renewables Now) - Swedish state-owned utility Vattenfall AB said today it has signed a 15-year power purchase agreement (PPA) with German-based Aquila Capital for the 163-MW Kraktorpet wind farm in Sweden.
Under the deal, Vattenfall will purchase and manage the wind farm's output. It will also provide balancing services, as well as market access and management of "green certificates."
The wind farm is currently under construction west of Sundsvall in the northern part of the country and is due to become operational in October 2019. It will use 43 turbines of 3.8 MW each that are expected to generate 570 GWh a year, enough to power some 120,000 Swedish households.
Vattenfall said that the agreement supports its ambition to become a leading renewable energy provider to corporate customers in Europe. The utility has now built a 4.5-GW portfolio of PPAs in its markets and is looking to almost double this number by 2020.
"Next to the growth of Vattenfall’s renewable portfolio to 7 GW in 2023, this agreement gives us the possibility to offer customers long term power deals based on renewable production," said Lars Haavik, lead originator Nordic at Vattenfall.