Aquila Capital has acquired Project Valhalla, one of the largest wind farm projects in Europe. The project will consist of 85 of the latest V136 4.2 MW Vestas turbines and thus have an installed capacity of 357 MW with an energy output of more than 1.1 TW when it is completed. It is located on two sites in Tönsen and Åmot-Lingbo in the Bollnäs and Ockelbo municipalities of Sweden respectively. The average wind speed in the area is approximately 7.2m per second at the turbines’ hub height and the project has a high capacity factor of more than 36%.
OX2 is the seller and is assigned to build the project and deliver it on a turnkey basis. Construction work will begin right away. The project is located North-West of Stockholm in a region with high-energy demand from corporate and industrial customers. Once operational, the output of Project Valhalla will be sufficient to power approximately 223,800 Swedish households. The project will be featured with a long-term power purchase agreement with a yet undisclosed, high calibre-offtaker.
With the acquisition of the Valhalla project, Aquila Capital manages renewable energy projects in Europe with a capacity of over 2,300 MW.
Susanne Wermter, Head of Investment Management Energy & Infrastructure EMEA, Aquila Capital, commented: “Wind projects in the Nordics are one of the pillars of Aquila Group’s real asset strategy, which underlines why this project is so special to us. It is a landmark achievement to have successfully closed one of the biggest wind projects in Europe and secure stable income for our investors through a long-term above average PPA.”
Roman Rosslenbroich, CEO and Co-Founder of Aquila Capital said: “Wind energy investments in the Nordics region are getting more and more attractive investments and this project is especially remarkable due to the technical dimension and its performance features. Our proposition in the region is enhanced even further by the broad network of partnerships we have built with leading market participants such as OX2 and Vestas. We are very happy about this cooperation.”
Paul Stormoen, Managing Director of OX2 Wind, adds: “This is yet another project resulting from Aquila Capital and OX2’s successful partnership in recent years. We are delighted that Aquila Capital is continuing to invest in Nordic wind energy and especially proud that we are able to deliver a project as large and efficient as Valhalla.”