Eolus and Hydro REIN, Hydro’s dedicated company for renewables development, have entered into an agreement to jointly develop a portfolio of nine onshore wind projects in Sweden. As part of the transaction, Hydro REIN will acquire 50% of the portfolio from Eolus, who will retain the remaining 50%.
These nine onshore wind projects have a combined installed capacity potential of 672 MW. Eight of the projects are in the Swedish SE3 price area and one in SE4. All projects are at an early development stage and are expected to be commissioned during 2027-2032, pending all required permits to be obtained.
“Sweden is a global leader in decarbonization. We are very pleased to play a part in developing the Swedish wind power industry, together with Eolus and accelerate the Nordic energy transition. This acquisition represents another significant milestone in the development our portfolio of renewable assets, and strengthens our presence in the Nordics,” says Head of Hydro REIN, Olivier Girardot.
”There is a big need for new electricity production in SE3 and SE4 in Sweden. With this partnership with Hydro REIN we can help to contribute to increase the electricity production in a cost-efficient manner from onshore wind in SE3 and SE4,” says Per Witalisson, CEO of Eolus.
About Hydro REIN
Hydro REIN was established in 2021 as part of Hydro’s strategy to grow in renewables. The company aims at becoming the preferred supplier of renewable power and other energy solutions for industrial clients.