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Swiss energy company BKW AG (SWX:BKW) has acquired three wind projects in southern Sweden with a combined capacity of 125 MW in a deal that brings it close to achieving its goal of building a renewable generation capacity of over 1 GW by 2026.
BKW bought the portfolio from Swedish renewables developer Eolus Vind AB (STO:EOLU-B) for EUR 18.9 million (USD 20.6m), the developer said. The deal covers all the shares in the project companies at an enterprise value of EUR 189.3 million.
Eolus will manage the building of the wind farms, Tjärnes, Skallberget/Utterberget and Rosenskog, on behalf of BKW. The Swedish company expects revenue from the construction management contract of about EUR 29.5 million.
The wind farms should become operational in the fourth quarter of 2023. The facilities will consist of 19 wind turbines and will produce around 330 GWh of renewable electricity a year, BKW said.
The acquisition increases BKW’s installed capacity from renewable energy to around 980 MW, which means the company has almost met its 2026 target. The deal also expands BKW’s Scandinavian presence. In terms of operation and maintenance, the Swiss company expects synergies, particularly with the Marker wind farm in Norway, which BKW put into operation in 2019.
(EUR 1 = USD 1.092)
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