Scandinavia round-up: Late spring sees flurry of projects, PPAs and investments

Projects

In Finland, Copenhagen Infrastructure Partners (CIP) and Myrsky Energia announced a partnership to develop more than 1.8GW of onshore wind capacity. It represents the first investment by CIP in onshore wind power in the region.

Construction of Neoen’s and Prokon’s 105.4MW Storbötet and 55.8MW Lumivaara wind farms began. Set to comprise 17 and nine Vestas turbines respectively, they are due to become operational in 2025. Both are underpinned by 10-year PPAs with Equinix.

And all 42 V162-6.0 MW turbines at Taaleri Energia’s Isoneva and Murtotuuli wind farms were operational. Together, they provide 252MW.

Off Norway, the 88MW Hywind Tampen began delivering power to the Snorre field, having begun supplying the Gullfaks field in 2022.

But Equinor announced that it would postpone further development of Trollvind indefinitely. It cited several challenges, including technology availability, rising costs and doubts over the initially intended timetable. The 1GW floating development had been planned for a site 65km off Bergen.

In Sweden, the takeover process was ongoing at Foresight Group’s 231MW Skaftåsen, as was commissioning at ERG’s 62MW Furuby, while the 48MW Skåramåla was completed, ahead of handover to European Energy.

PPAs

Meanwhile, Faurecia signed a 10-year PPA with Renewable Power Capital, linked to the under construction 145MW Klevberget, where commercial operations are expected in November 2023.

And Volvo Group signed a 10-year agreement with Vattenfall, for half of the 139MW Bruzaholm’s output. It will amount to around 230GWh / year from Q4 2025, with the 21-turbine development’s construction due to commence this summer.

Investments

Keppel and Keppel Infrastructure Fund Management were set to invest €4.7m in acquiring 2.9% and 13.4% stakes in the 17MW Fäbodliden II. It is due for completion in the second half of 2023.

In the offshore sector, OX2 agreed the sale to Ingka Investments, of 49% stakes in three Finnish projects: the 2.4GW Halla, 2.25GW Laine and 1.4GW Tyrsky. Planned for sites in the Gulf of Bothnia, they could become operational by the end of the decade.

It also received permission from the Swedish Government, to build the 400MW Galene. And Gothenburg Port Authority was set to acquire a 5% stake in Eolus’ planned 1GW Västvind.