German alternative energy investment company Aquila Capital has bought a large windpower project being built in Sweden.
The acquisition of the project in Lehtirova marks Aquila’s second significant investment in the Scandinavian windpower market in less than a year following its investment in Norway’s largest operational wind park, Midtfjellet Vindkraft.
The Lehtirova windfarm will comprise 41 Vestas V 126 3.6 MW turbines and have an installed capacity of almost 148 MW once it is connected to the grid in 2018.
A large proportion of the energy produced by the wind park will be sold at a fixed price to a subsidiary of Google under a long-term power purchase agreement and the project developer is Swedish renewable energy company OX2.
Roman Rosslenbroich, chief executive of Aquila Capital, said: “This wind project is an ideal addition to our existing renewable energy portfolio in Scandinavia. Over the past few years we have established a broad network of local partners and we have comprehensive experience in identifying attractive investment opportunities, executing transactions and providing asset management for large-scale renewable energy projects.”
Francois Sterin, Director of global infrastructure at Google, said the company was “committed to powering 100 per cent of our operations with renewable energy sources. Today’s announcement is Google’s seventh European wind power deal to date and reinforces our position as the world’s largest corporate renewable buyer.”