China’s CGN has bought the majority of shares in a Swedish windfarm still under construction. When finished, it will be the largest onshore farm in Europe.
In the northeast of Sweden, on the western coast of the Bothnian Bay by the town Piteå, a large windfarm is under construction. Actually, it’s among the very largest windfarms in the world, and when it’s finished, it will be the largest in Europe.
The project is set in motion by Australia’s Macquarie Group and GE Energy Financial Service, but as of today, 75 percent of the shares are owned by China General Nuclear Power Corporation (CGN).
The windfarm is to be finished in 2019 by when it should have a capacity og 650,000 kilowatts, making it the largest windfarm in Europe.
CGN, via its European operations based in France, has so far acquired over 1,000 megawatts of wind and solar power assets in Europe, Xinhua cited CGN CEO Liu Wei as saying.
There has been no reports of the value of the deal.