UK-based investor John Laing has achieved a financial closure for its first overseas onshore wind project in Sweden.
The 20MW Svartvallsberget Wind Farm will employ 10 turbines with 2MW capacity each and is expected to be operational by the end of June 2014.
John Laing is the 100% investor in the project and will also look into the design, building, financing and operation of facility.
Commenting on the project John Laing Renewable Energy head Ross McArthur said that the Svartvallsberget Wind Farm represent a major milestone in the company’s expansion into the renewable energy space.
John Laing Continental Europe Business Development head Andreas Parzych added, "This is an exciting project for John Laing as the skills and experience we have obtained so far in the renewable energy sector has allowed us to expand into Northern Europe, making Svartvallsberget Wind Farm John Laing’s first project in Sweden."
The facility will produce sufficient electricity to power 12,500 homes in the region as well as reduce 21,000 tons of CO2 emissions annually.