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Aquila acquires 148MW from OX2

SWEDEN: German investment firm Aquila Capital has agreed to acquire a 148MW project in Sweden, backed with a power purchase deal from Google, from developer OX2.

Vestas' V126 turbines will be used at the Lehtirova site
Vestas' V126 turbines will be used at the Lehtirova site

Aquila has bought the Lehtirova project in northern Sweden from OX2 for an undisclosed fee. The site will comprise 41 Vestas V126 3.6MW turbines and is due for completion in at the end of 2018. Vestas will service the turbines for 15 years.

Google will purchase "a large proportion" of the wind produced from the park to power its data centres. The internet giant said the deal is its seventh power purchase agreement (PPA) in Europe.

OX2 will continue to be involved in the project as engineering, procurement and construction supplier.

Last month, Aquila acquired two wind projects in Germany totalling 80MW. In December it also bought a stake in the 150MW Midtfjellet wind project in Norway.

"This wind farm is remarkable in many regards: its sheer size; the technical layout designed to optimally capture the strong and steady wind resources; the set-up with the seller OX2 as experienced developer and full-wrap EPC supplier; and Google as off-taker for a defined proportion of the wind farm's output," said Aquila Capital head of special infrastructure Susanne Wermter.

"We are pleased to establish this relationship with Aquila and to further expand our collaboration with Google," added OX2 managing director Paul Stormoen.

As a result of the transaction, Aquila's wind portfolio will have approximately 900MW of capacity.

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