Renewable energy investor Greencoat Renewables has bought a 101.1MW wind farm in Norrbotten in Sweden from Enercon, the company's first deal in Sweden.
The Ersträsk South wind farm consists of 26 Enercon E103 and 10 Enercon E126 turbines and was fully commissioned in January this year.
Enercon will continue to provide long term operations and maintenance services for the wind farm.
Today's deal extends Greencoat's operating presence in the Nordics, which benefits from the ability to develop renewable energy projects on an unsubsidised basis.
Ersträsk South forms part of a large emerging cluster of renewable generation in the Markbygden area, with a potential installed capacity of 4GW.
Greencoat said the wind farm is contracted as a merchant asset exporting electricity into Nordpool but has the flexibility in the future to contract the electricity produced via a corporate PPA.
Paul O'Donnell, Partner at Greencoat Capital, the company's investment manager, said securing the company's first asset in Sweden and expanding its presence in the Nordics is a significant milestone for Greencoat.
"Sweden is becoming a major hub for green energy, with the combination of low-cost generation, significant capacity in development, and a number of attractive routes to market including access to Nordpool and a rapidly developing corporate PPA market," Mr O'Donnell said.
"We are delighted to secure such a high-quality asset from Enercon and are well-positioned to take advantage of future opportunities in the market," he added.