Vattenfall is buying the majority stakes in two offshore wind projects located off the coast of Gothenburg from wind power company Zephyr.
The Swedish energy firm’s ownership in the Vidar and Poseidon wind farms, which are expected to have a combined capacity of 2.8GW, will amount to 85%.
They will primarily consist of floating wind turbines and generate 10.5TWh of green electricity annually once fully developed.
Helene Biström, Head of Business Area Wind at Vattenfall said: “Vattenfall aims to enable fossil-free living and to support industries and society at large on the Swedish west coast by providing more renewable electricity and this is an important step towards that target.
“These two projects will add significant volume of cost-effective fossil free electricity in an area with high demand. They will also support our development of the important floating technology which is expected to reduce the environmental impact of the wind farms, as well as enable offshore energy production at sites further away from shore.”