November 17, 2007

Vattenfall, Sveaskog say form wind power venture

Swedish utility Vattenfall and forest owner Sveaskog said on Friday they plan to join forces to build up to 550 wind farms in southern Sweden.

The firms said the agreement concerned land in Halland, Vastra Gotaland, Kronoberg, Kalmar and Blekinge counties and could result in plants with a total 1,500 megawatts.

“That is 40 percent more than any other wind power project in Sweden. The 4 TWh (per year) in which the investments could result correspond to around 3 percent of Sweden’s total electricity production,” the firms said in a statement.

Vattenfall said it plans to invest 41 billion Swedish crowns ($6.46 billion) in windmill expansion until 2016, targetting 8 TWh annual power production from wind farms.

“The aim is for this project to account for largely half of that investment,” said Vattenfall spokesman Erik von Hofsten.

He said Vattenfall hoped to have the windmills in the new venture up and running in significantly less than 10 years.

“With the Lillgrund wind farm (off Sweden’s south coast) it took us 10 years to start producing electricity. We hope this will be considerably faster, such as in Denmark where the permission process is several years faster,” he said.

In September, Sweden’s SCA and Norway’s Statkraft announced a plan to build seven wind farms in northern Sweden with the aim produce 2,800 GWh of electricity per year.

(Reporting by Anna Ringstrom)


16 November 2007

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