The Ikea-owned investment firm will acquire the stake for an initial consideration of $57 million, followed by a payment of ~$99,500/MW of the total planned capacity, contingent on the successful permitting of the projects and progress on their development through mutual agreement between the partners. The transacted assets comprise the 5.5 GW Auroa project, the 1.8 GW Triton wind plant and the 1.7 GW Galatea-Galene project. The wind farms are expected to reach commercial operations in 2030.
Over the past few years, Sweden has emerged as one of the premier markets for renewable energy investments in Europe, lagging behind only Poland and Germany in year-on-year growth in transaction volume, since 2021. The country has amongst the strongest commitments to green stimulus and recovery, having announced multiple cross-cutting measures which are aimed at driving a structural transformation towards a green economy, underpinned by an emphatic boom in installed onshore wind capacity.
In Feb’22, Sweden presented plans to build offshore wind power plants that will generate 20-30 TWh/yr of electricity, with an aim to reach 120 TWh at a later stage. The areas identified for development are located in the waters both east and west of Sweden. The country’s annual power consumption currently stands at ~140 TWh per year, which is expected to rise considerably in the coming years as the country's industries and transport sector are phasing out fossil fuels. The Swedish government expects offshore wind power to account for a 33% share of domestic wind power generation by 2040.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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