Vattenfall, Skandia partner on wind power

Vattenfall and Skandia are jointly investing about $262 million to set up four wind farms in Sweden with a total output of 141 MW. The wind power projects will be run by a jointly owned company.

“Vattenfall is investing in renewable energy, and the joint investment with Skandia will allow its expansion in Sweden to take place at a faster rate. That is good for our respective customers, and it’s good for Sweden,” says Magnus Hall, Vattenfall’s CEO.

The four wind power projects are Hjuleberg (Falkenberg municipality), Höge Väg (Kristianstad municipality), Juktan (Sorsele municipality) and Högabjär-Kärsås (Falkenberg municipality). The first of these is already in operation and will be handed over to the joint holding company on 1 January 2015. The other wind farms are being built by Vattenfall and will be handed over to the joint company in the first quarter of 2016.

“We have been investing increasingly in infrastructure for several years, as that has given gives our customers savers a stable and long-term return. This investment For our customers it is possible to benefit from the investments in the future as well as short term as they can create sustainable value for society at large. Vattenfall is a strong operating partner and wind power is a sector with good growth," says Bengt-Åke Fagerman, Skandia's CEO.

The two parties will own equal shares in the joint company.

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