Statkraft is set to partner with TrønderEnergi and the European investor consortium NordicWind Power to build an onshore wind power project in central Norway, at a cost of approximately €1.1bn.
With a combined capacity of 1,000MW, the six-cluster project will be owned by Fosen Vind, a joint venture (JV) owned by the three entities.
Statkraft will have a 52.1% ownership interest in the JV, while Nordic Wind Power and TrønderEnergi will have a 40% and 7.9% stake in the company respectively.
The Fosen Vind project portfolio includes Harbaksfjellet, Roan, Storheia and Kvenndalsfjellet wind farms north of the Trondheim fjord totalling 750MW, as well as the Geitfjellet and Hitra 2 wind farms south of the Trondheim fjord with a combined capacity of nearly 250MW.
Construction on the Europe's largest onshore wind power project will begin in the second quarter of this year, with plans to commission in 2020.
Upon completion, the project will generate 3.4TWh of clean power annually.
Statkraft CEO and president Christian Rynning-Tønnesen said: "This is an important day. Together with our partners Statkraft has developed the largest renewable energy project in Norway in this millennium.
"With a 1000MW project we become one of the leading onshore wind players."
Vestas will supply 248 units of V117-3.45 MW and 30 units of V112-3.45 MW turbines for the project, as part of a contract awarded by Fosen Vind.
The contract includes supply, installation and commissioning of the wind turbines as well as a two-year customised, full-scope service agreement and a 20-year service and support agreement.
The first delivery of turbines is scheduled for 2018.
Vestas Northern Europe president Klaus Steen Mortensen said: "We are extremely proud to work with Statkraft and the partner organisations on this 1 GW project, which is Vestas' largest order to date.
"The order affirms the competitiveness of Vestas' wind power solutions, and that wind power provides an attractive long-term energy investment that goes well beyond its climate and sustainability benefits. Investing in wind power simply makes economic sense."
Image: Construction on the Europe's largest onshore wind power project will begin in Q2 2016. Photo: courtesy of koko-tewan / FreeDigitalPhotos.net.