Sweden – Eolus and Hydro REIN form a partnership to jointly develop and realize a portfolio of nine Swedish wind power projects in the early stages of development.
SE3 and SE4 are the locations of the projects, which have a total installed capacity of up to 672 MW. Within the framework of the partnership, Hydro Rein acquires 50% of Eolus’s 672 MW portfolio.
Eolus and Hydro REIN have signed an agreement to form a partnership to develop and realize a 672 MW portfolio owned by Eolus in Sweden. Hydro REIN acquires 50% of the portfolio as part of the partnership, with a profit sharing mechanism between the parties when the projects reach the construction stage. Eolus and Hydro REIN will jointly develop and establish the projects in the future, with an Eolus lead.
The portfolio consists of nine projects in Sweden’s SE3 and SE4 regions that are in the early stages of development and are expected to be operational between 2027 and 2032, pending the receipt of all necessary permits.
The transaction is subject to a number of conditions before closing, which is expected to take place in January 2022.