Eolus and SCA plan to develop 1 GW of wind projects in Sweden, Latvia and Estonia

10 Jul 2020

Sweden-based wind power developer Eolus has signed a partnership agreement with the Swedish pulp and paper company SCA to develop 1 GW of wind projects in Sweden, Latvia and Estonia. The plants would be developed on land owned by SCA, which currently produce 5 TWh/year.

In addition, the French investment fund Ardian has reached a financing agreement with KfW IPEX-Bank, an affiliate of German state-owned development bank KfW, for its 286 MW Åndberg wind project in Sweden. The 20-year financing pact is underpinned by a 10-year power purchase agreement (PPA) with Swedish municipal power company Skelleftea Kraft for one-third of Andberg’s output. Commissioning is scheduled in 2021.

In 2015, the Swedish parliament set an objective to produce 10 TWh/year of electricity from wind (4 TWh onshore and 6 TWh offshore) or other renewables, and 30 TWh/year by 2020 (20 TWh onshore and 10 TWh offshore). As of July 2020, wind power accounted for 22% of Sweden’s total capacity with around 9.1 GW. More than 3.5 GW are under construction and 8.9 GW under development.

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