Sweden

Sweden

Powerful new owner for Swedes -- Olsen galvanises Eurowind

A new force is blowing through the Swedish wind market after Norwegian shipping and energy giant Fred Olsen took a 50% stake in thrusting development company Eurowind. Eurowind has plans to expand into a number of new areas, and senior partner Magnus Rosenback describes the link-up with Fred Olsen Renewables as "a truly thrilling opportunity" for the future. "They will be a substantial partner for investment and development, with a big focus on offshore."

Eurowind is optimistic of winning approval for its first offshore wind farm, on Lillgrund in the sound between Sweden and Denmark, before the end of the year. Fred Olsen Renewables' knowledge of developing wind farms in Scotland and the group's wider experience of offshore installations for the North Sea oil industry will give Eurowind valuable new expertise. But the financial clout of what Rosenback terms "a known entrepreneur" is particularly timely given the scale of offshore wind projects waiting to be developed (Windpower Monthly, September 2000). Eurowind was previously owned 100% by Inventus of Sweden.

The Lillgrund project could well linger a while longer on the drawing board. Eurowind has been sent back to do additional environmental impact studies, due this month, and the final outcome of a Danish complaint over competition practises is still not clear (Windpower Monthly, April 2000). But Eurowind has other onshore and offshore projects in the pipeline and is pitching for the emerging market of heated technology for turbines in sub-Arctic regions through plans for about 100, 600 kW turbines in Jamtland, northern Sweden. "We are also very interested in the green certificate business," Mr Rosenback says.

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