View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
March 9, 2016

EIB invests €16m in Swedish windfarm

The European Investment Bank (EIB) is investing €16m to construct Langmarken onshore windfarm in Värmland County, Sweden.

The European Investment Bank (EIB) is investing €16m to construct Langmarken onshore windfarm in Värmland County, Sweden.

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

This will be the first project of EIB in Sweden under European Fund for Strategic Investments (EFSI).

Mirova and Eolus are the other co-investors in the onshore windfarm.

The EIB and Mirova-Eurofideme 3, a renewable energy fund managed by Mirova, have signed an agreement to acquire the Langmarken wind project.

The two companies will own 90% of shares in the windfarm, while Eolus will have the remaining 10%.

"It will contribute to the achievement of European and Swedish targets for renewable energy generation and CO2 emissions reduction."

Construction and management of the 20MW windfarm will be performed by Nordics windpower developer Eolus.

The deal includes six Vestas V126-3.3MW wind turbines, with an additional two having been acquired by the City of Malmö and the local Kalmar County Council.

Construction of the facility has already started and once commissioned, it will be linked to the national grid through a local substation operated by Kristinehamns Energi AB. The plant is expected to be commissioned by the first quarter of 2017.

EIB vice-president for operations in Sweden Jan Vapaavuori said: "We are glad to cooperate with Mirova and support the Langmarken wind project, as it will contribute to the achievement of European and Swedish targets for renewable energy generation and CO2 emissions reduction.

"This first EIB project in Sweden under the investment plan for Europe is only a start of the EFSI rollout in this country, within which we have been developing new financial products aiming to extend the EIB’s risk capacity and market reach."

Mirova Renewable Funds head Raphael Lance said: "It is our opinion that windpower in Sweden is one of the most attractive long-term plays in European renewables. It adds another very competitive asset to Mirova-Eurofideme 3’s portfolio, which already comprises six wind, solar and hydro investments, primarily in France and in Sweden."

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology