Swedish firm Holmen Energy, in partnership with investment fund Eurofideme 2, will construct a 51MW wind power plant in Varsvik, Norrtälje municipality, Sweden.

Holmen and Eurofideme 2 will co-own the project, where Vestas will supply 17 V112 wind turbines of 3MW each.

Expected to be completed in the second quarter of 2014, the wind project will be installed in connection with Holmen’s Hallstavik paper mill.

Eurofideme 2 director Raphael Lance said, "This project is a key milestone to our expansion strategy in Sweden, one of the most attractive markets for wind in Europe. It is a great opportunity for Eurofideme 2 to be co-investing with high quality partners like Holmen and Vestas."

The agreement signed by Holmen and Eurofideme 2 with Vestas includes delivery, installation and commissioning of the wind power plant.

Holmen Energy CEO Arne Wallin said, "Today, we have initiated the execution of the wind project Varsvik, involving 17 Vestas wind turbines. We have worked with Vestas for some time to continuously improve and tailor the site for optimal turbine layout to secure best cost of energy and stabilised operational lifetime of the turbines."