Aquila Capital has acquired Project Valhalla, one of the largest wind farm projects in Europe. The project will consist of 85 of the latest V136 4.2 MW Vestas turbines and thus have an installed capacity of 357 MW with an energy output of more than 1.1-TWh when it is completed. It is located on two sites in Tönsen and Åmot-Lingbo in the Bollnäs and Ockelbo municipalities of Sweden respectively. The average wind speed in the area is approximately 7.2m per second at the turbines’ hub height and the project has a high capacity factor of more than 36%.
“Wind projects in the Nordics are one of the pillars of Aquila Group’s real asset strategy, which underlines why this project is so special to us,” says Susanne Wermter, Head of Investment Management Energy & Infrastructure EMEA, Aquila Capital. “It is a landmark achievement to have successfully closed one of the biggest wind projects in Europe and secure stable income for our investors through a long-term above average PPA.”
OX2 is the seller and is assigned to build the project and deliver it on a turnkey basis. Construction work will begin right away. The project is located North-West of Stockholm in a region with high-energy demand from corporate and industrial customers.
Once operational, the output of Project Valhalla will be sufficient to power approximately 223,800 Swedish households. The project will be featured with a long-term power purchase agreement with a yet undisclosed, high-caliber-offtaker.
‘This is yet another project resulting from Aquila Capital and OX2’s successful partnership in recent years,” says Paul Stormoen, Managing Director of OX2 Wind. “We are delighted that Aquila Capital is continuing to invest in Nordic wind energy and especially proud that we are able to deliver a project as large and efficient as Valhalla.”
With the acquisition of the Valhalla project, Aquila Capital manages renewable energy projects in Europe with a capacity of over 2,300 MW.
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