Renewable Energy Systems (RES) has divested the 80MW Vargträsk wind project in the County of Västerbotten, Sweden, to Vattenfall.
Image: RES sells 80MW Vargträsk wind project to Vattenfall. Photo courtesy of Renewable Energy Systems Ltd.
Consisting of 21 turbines, the Vargträsk wind project will generate enough electricity to power approximately 50 000 homes.
Developed by RES, the Vargträsk project’s environmental permit came into force in 2016.
With the acquisition, Vattenfall will now take the Vargträsk project further towards construction.
RES Scandinavia CEO said: “We see the natural synergies for Vattenfall with the Vargträsk project and are proud to hand over a well-developed project to them. We wish Vattenfall the best of luck with the continued development and upcoming construction”.
Currently, RES as a portfolio of about ten wind farm projects under development in Sweden and Norway.
The company foresees exponential growth for wind power in Scandinavia.
In Västerbotten, RES will now concentrate on the project cluster of Hornberget, Fjällberg and Vinliden and its connection to the Tuggen Power Station.
Vattenfall’s Daniel Gustafsson said: “As part of our strategy to grow in the renewable energy sector, acquisitions is one of several possible ways to go.
“The proximity to the Blakliden / Fäbodberget wind farm, which we will now build, and the existing wind farm Stor-Rotliden will give us clear synergies. From a national perspective, this cluster provides a significant boost to renewable energy.”
RES is an independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution.
The company has delivered 1.6GW of renewable energy projects across the globe. It employs over 2,000 people and is active in 10 countries.
In September, RES has signed a power purchase agreement with Cooperative Energy for 100MW of solar energy from its Delta’s Edge project in Carroll County, Mississippi.
RES will design develop and construct the the Delta’s Edge Solar facility, which will cover a 652-acre site located 9.6km east of Greenwood.
Upon commencing operations in 2021-2022, the Delta’s Edge Solar facility will generate enough clean energy to power nearly 16,400 homes annually.