UK-based energy company Red Rock Power has acquired a 50% equity share of Green Investment Group’s Överturingen onshore wind farm in central Sweden.
Red Rock Power will partner with Nordic infrastructure manager CapMan Infra on the Cloud Snurran AB joint venture.
The wind farm, which began commercial operation earlier this month, features 56 turbines and has a capacity of 240.8MW.
It represents Red Rock Power’s first project outside the UK and marks the company’s expansion into the wider European market.
Red Rock Power Limited CEO Guy Madgwick said: “Sweden’s commitment to renewable energy and wealth of natural resources meant it was an obvious key target for us as we set our sights on expansion into other European markets.
“We are delighted to be partnering with CapMan Infra and bringing the Överturingen wind farm into our growing portfolio.
“We hope to gain a greater understanding of the local industry as we continue to identify acquisition and development opportunities in the region.
“While our expansion plans are increasing in pace, we very much remain committed to our home market and will continue to grow our Scottish and UK wind portfolio.”
The wind farm will generate approximately 805.5GWh of energy every year.
The majority of the power generated from the wind farm will be sold to Norsk Hydro, a Norwegian aluminium company, under a 29-year power purchase agreement (PPA).
NEAS Energy has inked a 10-year PPA for the remaining generation, providing electricity to nearly 25,000 homes.
Madgwick further added: “Our Edinburgh-team has tripled in size over the last four years and we expect this new asset will add valuable experience in operating remote projects in extreme weather conditions which we can apply to our wider operation.”
