EnBW’s Sverige buys seven windfarms in Sweden

9 January 2019 (Last Updated January 9th, 2019 10:57)

German utility company Energie Baden-Württemberg's Swedish subsidiary EnBW Sverige has acquired seven windfarms in Sweden.

German utility company Energie Baden-Württemberg’s Swedish subsidiary EnBW Sverige has acquired seven windfarms in Sweden.

The seven windfarms are from two operating companies and have a combined installed capacity of 105MW.

The financial details of the deal have not been disclosed by the companies.

Under the deal, EnBW Sverige 51 wind turbines. Forty seven of these turbines came from Power Wind Partners, which is owned by the three Swedish financial investors that include Proventus, FAM and Folksam. The remaining four turbines were provided by Gnosjö Energi, which is owned by Folksam.

Five windfarms acquired by EnBW’s Swedish subsidiary are in Svealand, with the one site in Norrland and the other in the Gotaland region. Additionally, EnBW Sverige has acquired two power grid companies.

“It is an important step that will help us grow here and position us as a reliable partner for the further expansion of renewable energies.”

Based in Falkenberg in southern Sweden, EnBW Sverige was established in July 2018. The company is currently constructing its own windfarm with three turbines and an output of around 11MW in Rammarehemmet in the municipality of Tidaholm.

EnBW Portfolio Development head Dirk Güsewell said: “We only founded our Swedish subsidiary a few months ago and the fact that we are now already concluding the first major acquisition confirms our decision to selectively internationalise our business and shows the role we believe Sweden plays for us as a growth market.

“It is an important step that will help us grow here and position us as a reliable partner for the further expansion of renewable energies.”

By 2025, EnBW plans to invest more than €5bn in order to further expand its renewable energies. It will allow companies to focus on selective internationalisation in order to complement its core market of Germany.