Vestas partners with Swedish utility, Vattenfall, and Danish pension fund, PKA, for 353 MW wind energy project in Sweden
16 Mayo 2018 - 4:53AM
Vestas partners with Swedish utility, Vattenfall, and Danish
pension fund, PKA, for 353 MW wind energy project in Sweden
News release
from Vestas Northern & Central
EuropeHamburg, 16 May 2018
With wind energy becoming the lowest cost of energy solution in
many markets, the global wind energy market is expanding and
creating new opportunities that involve new customer segments,
partnership constellations, technology solutions and financing
structures. As the global leader in wind energy, Vestas continues
to be highly involved in this evolution and is together with key
partners developing solutions that address a wind park’s full value
chain and hereby maximise return on investment and
profitability.
Highlighting this development, Vestas has today entered into a
partnership with Swedish utility, Vattenfall, and Danish pension
fund, PKA, for a 353 MW wind energy project in Sweden. For the
project, which is PKA’s first investment in onshore wind, Vestas
will provide 353 MW of V136-4.2 MW turbines as well as become a
shareholder through a share purchase agreement for 40 percent of
the project. PKA and Vattenfall will own 30 percent project equity
each. The project’s total construction funding is around EUR 350m
and will be partially funded by non-recourse project financing
while financial close is expected to be finalised in the coming
months.
To grasp further opportunities in this emerging space and
develop additional revenue streams, Vestas aims to engage in
project solutions with customers and investors that have strong
track records within sustainable energy. Depending on project and
customer needs, such solutions may include co-development,
financial solutions or equity investments, and hereby go beyond
supplying, installing, and servicing turbines as well as full
engineering, procurement and construction projects. By doing so,
Vestas secures project pipeline and creates attractive and
profitable investment opportunities.
“The cost of renewable energy is going down, which is making the
market more competitive and creating new opportunities. In this
dynamic market, we continue to leverage our deep expertise across
the entire value chain to develop solutions with our customers that
produce the lowest cost of energy. With our partners on this
project, I believe we have shown our ability to tailor the right
solutions and, in doing so, advance our business according to our
strategy”, states Anders Runevad, President and CEO of Vestas.
The project has been developed by Vattenfall and consists of 84
V136-4.2 MW turbines to be installed across the Blakliden and
Fäbodberget wind parks located in Åsele and Lycksele Municipality
in central Sweden. Blakliden and Fäbodberget wind parks will
consist of 50 and 34 turbines respectively.
“It is highly gratifying that we can now continue our expansion
of onshore wind farms in Sweden. Blakliden/Fäbodberget represents
an important step in our strategy to become fossil free within one
generation. It is also important for Vattenfall to demonstrate that
we are making a major investment in renewables in Sweden”, says
Magnus Hall, President and CEO of Vattenfall.
Having previously invested in five offshore wind parks, PKA’s
first investment in onshore wind underlines the attractive
investment case onshore wind energy offers from a pension fund’s
perspective. Peter Damgaard, CEO of PKA says:
“The model created for this investment can be copied to other
similar investments as we have seen it with our investments in
offshore wind parks. We focus on this type of investments
because we continue to find interesting opportunities in combining
good returns to our members with mitigation of climate change. For
us it is good business and common sense, and we therefore don’t
expect this to be our last investment in onshore wind”.
Nils de Baar, President of Vestas Northern and Central Europe
adds “This project underlines Vestas’ strong ability to work with
our partners to optimise projects to make them even more
competitive, which is key to our continued market-leadership in
Sweden. Both Vattenfall and PKA have strong track records within
sustainable energy and we are honoured to partner with them on a
project that exemplifies how Vestas’ solutions meet the full scope
of our customers’ challenges, including financing”.
The order includes supply and installation of the wind turbines
as well as a 25-year Active Output Management (AOM 5000) service
contract. Turbine delivery is expected to begin in first half of
2021 with full commissioning planned for fourth quarter of
2021.
For updated Vestas photographs and videos, please visit our
media images page on:
https://www.vestas.com/en/media/images.
For more information, please
contact:Anders Riis External Communications Mobile:
+45 4181 3922Email: ANPRR@vestas.com
Patrik Setterberg, Vice President, Investor RelationsMobile: +45
6122 1913Email: PAVST@vestas.com
About VattenfallVattenfall is a leading European
energy company, that for more than 100 years has electrified
industries, supplied energy to people’s homes and modernised our
way of living through innovation and cooperation. We now want to
make fossil-free living possible within one generation. Therefore
we are driving the transition to a more sustainable energy system
through growth in renewable production and climate smart energy
solutions for our customers. We employ approximately 20,000 people
and have operations mainly in Sweden, Germany, the Netherlands,
Denmark, the UK and Finland. Vattenfall is owned by the Swedish
state. For more information: corporate.vattenfall.com
About PKAPKA Ltd. is one of the
largest pension service providers for labour market pension funds
in Denmark. Their 300,000 members work primarily in the public
sector. PKA invest approximately DKK 275bn (EUR 36bn) on behalf of
their members. PKA has a special focus on investing in projects
that help to mitigate the effects of climate change. They have
invested approximately DKK 19bn (EUR 2.3bn) in climate-related
projects and have currently investments in five offshore wind
farms.
About VestasVestas is the energy industry’s
global partner on sustainable energy solutions. We design,
manufacture, install, and service wind turbines across the globe,
and with 92 GW of wind turbines in 79 countries, we have installed
more wind power than anyone else. Through our industry-leading
smart data capabilities and unparalleled 78 GW of wind turbines
under service, we use data to interpret, forecast, and exploit wind
resources and deliver best-in-class wind power solutions. Together
with our customers, Vestas’ more than 23,900 employees are bringing
the world sustainable energy solutions to power a bright
future.
We invite you to learn more about Vestas by visiting our website
at http://www.vestas.com and following us on our social media
channels:
- www.twitter.com/vestas
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