European infrastructure fund Marguerite has signed an agreement to acquire a Swedish 42MW wind turbine onshore wind farm from renewable energy projects developer OX2.
OX2 will be building the Brännliden wind farm in Brännliden, Skellefteå municipality under an engineering, procurement and construction (EPC) contract.
Financial details of the transaction have not been disclosed by either company.
Marguerite partner William Pierson said: “This investment follows our renewable strategy to focus on low-subsidy projects with highly competitive LCOE. We, at Marguerite, are excited about our future collaboration with OX2.”
Construction works on the Brännliden wind farm will begin immediately, and are estimated to be completed late next year or early 2020.
The wind farm will be equipped with V136 4.2MW wind turbines supplied by the Danish firm Vestas, which will also serve as the operations and maintenance contractor for a period of 25-years.
Once commissioned, the project will have the capacity to generate approximately 160GWh on an annual basis and OX2 will be responsible for the technical and commercial management of the wind farm.
OX2 Wind managing director Paul Stormoen said: “We are very pleased to establish this relationship with Marguerite.
“Reaching construction start for this project is once again proof of OX2’s core strength and focus; technical and financial wind farm optimisation and supply of full-wrap EPC agreements.”
OX2 is currently developing eight wind farms with a total capacity of approximately 800MW in Sweden, Norway and Finland.
It also recently commissioned its first 46.8MW onshore wind farm in Sweden in Grimsås, Tranemo Municipality, Västra Götaland County.