The joint venture is aiming to develop around 200MW of wind farm capacity in western Sweden, with the first wind farm scheduled to come into operation around 2011.
The development of this capacity is expected to require equity investment by Airtricity and Gothia Vind, of around E30 million each.
The joint venture’s plans are part of Scottish and Southern Energy’s (SSE) intention to invest, on an equity basis, around GBP500 million over the next five years in renewable energy in new markets and technologies.
Paul Dowling, Airtricity’s CEO, said: There is a rapidly rising demand for wind power in Sweden and we believe that the joint venture with Gothia Vind will give us a platform to meet some of this demand and thereby establish a significant and growing presence in this important market.
