EnergyWatch

Eolus siphons developer's pipeline

With a series of newly acquired Swedish projects, wind energy developer Eolus fills 450 MW into its pipeline from rival Vindkraft Värmland, whose feathers appear somewhat plucked.

Photo: PR / Eolus

With roughly 1.7 GW in Swedish development projects in initial phases, wind developer Eolus' domestic pipeline seems to be brimming.

Nonetheless, the company has now decided to take over a series of projects with a combined capacity of 450 MW purchased from competitor Vindkraft Värmland, a subsidiary of Modern Energy.

Six of these projects are located in the country's SE3 electricity district, while the seventh lies in SE4. The transaction also involves an option to buy Vindkraft Värmlands remaining three projects totaling 280 MW in SE3.

SE3 ad SE4 have higher power prices than SE1 and SE2, which typically host more wind capacity additions and, according to Eolus, are the very reason behind the deal.

"We are seeing a large interest for projects within SE3 and SE4. We are pleased to add these projects in early development phase to Eolus’ Swedish portfolio," writes Eolus Head of Origination Gustav Grumertin a press release.

The trade's price depends on the extent to which the project will be realized, as Vindkraft Värmland is ensured a portion of the profit, which is why company co-founder and senior wind analyst at Modern Energy Rolf-Erik Keck, of course, wishes Eolus all the best looking forward.

"We are looking forward to be part of this very exciting journey, and to put some turbines in the ground in the years to come!" Keck writes on his LinkedIn profile.

English Edit: Daniel Frank Christensen

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