APG and Vasa Vind to build Sweden’s largest onshore wind power project
June 30, 2017
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APG and Vasa Vind announced today the launch into construction of the 288MW Åskalen onshore wind power project. Located in the central Sweden region of Jämtland, the project will comprise 80 Vestas V136 3.6MW turbines, making it the largest onshore wind power project in Sweden. The total construction investment will amount to approximately EUR 300m, and commissioning will be completed in 2020 delivering a total power production close to 1TWh/year, equivalent to 50.000 Swedish households.
The cost to build Scandinavian wind power generation is among the lowest in Europe. The peninsula has strong and steady winds, and its scarce population density allows construction at a larger scale and with higher towers than in most European countries. Thanks to its industrial scale and excellent wind resource, the Åskalen project will be one of the most efficient wind farms in Europe.
In April 2017 Sweden announced the extension of its green certificate system for renewable power until 2030, adding 18TWh to the target to be reached by this date; Åskalen is one of the first projects to be launched in construction after this extension.
Pension funds ABP and PPF APG, the assets of which are managed by APG, will be the owners of the wind farm. This investment will contribute to ABP’s goal of increasing its investments in renewable energy fivefold (to € 5 bln) by 2020. Vasa Vind, a portfolio company of HgCapital’s Renewable Power Partners 2 fund, will be responsible for the construction and operations project management. Vestas will be responsible for the operations and maintenance of the wind farm through a 20-year contract.