The 85-turbine Valhalla project will be built on two sites in Bollnäs and Ockelbo in central Sweden, and is expected to be operational in the spring of 2020.
German investment firm Aquila will acquire the project, while developer OX2 will deliver it under an engineering, procurement and construction (EPC) contract, the two companies stated. Construction is set to start immediately, they added.
The site will comprise 85 of Vestas’ V136-4.2MW models, each with a total height of 180 metres.
An as-yet undisclosed "high-calibre off-taker" will buy power from Valhalla under a "long-term" agreement, the two companies added.
Aquila surpassed 1GW of wind power transactions in August — a portfolio that includes several agreements with OX2.
The German company also invests in other forms of renewable energy, including solar PV and hydropower, and real estate.
The Finnish-Swedish developer, meanwhile, said it is currently building six wind farms in the Nordic region, with a total capacity of 717MW.