RES will construct the wind farm under an engineering, procurement and construction (EPC) contract for the project
Mirova, a affiliate of Natixis Investment Managers, has acquired the 85.8MW Rödene wind project from global independent renewable energy company, RES.
The financial details of the transaction are not disclosed.
As per the terms of the deal, RES will be responsible for the construction of the wind project under an engineering, procurement and construction (EPC) contract.
After the completion of the project, the company will also provide asset management services for the wind farm.
Located outside Alingsås in Västra Götaland, Sweden, the wind farm will feature 13 wind turbines and will generate enough electricity to power 40,000 households in Sweden while offsetting 230,000 tonnes of CO2 emmisions.
RES will provide asset management services for the wind farm
RES Nordics CEO Matilda Afzelius said: “We look forward to building and operating this project with our client Mirova in this part of the country where electricity demand is particularly high.
“It’s impressive to think that these 13 turbines will deliver the equivalent power demand of the local city of Alingsås.”
The acquisition of Rödene wind farm represents the third project sold by RES to Mirova, after the Våsberget wind project sold in 2015 and the Vardafjellet project in 2018.
RES is scheduled to begin the construction on the project in August and is expected to handover it in April 2022.
The wind farm, which is situated in Kvinesdal, southern Norway, will supply electricity to Eramet Norway until 2038 under a long-term power purchase agreements (PPAs) signed by GIG and Eramet Norway in January.