French asset manager Eiffel Investment Group has agreed to buy half of a 1.8GW Swedish renewables portfolio being developed by Scandinavian firm Landinfra Energy.
Eiffel will buy 50% of the portfolio, with Landinfra due to retain the other half.
The pair will jointly develop wind (300MW), solar (1,350MW) and standalone energy storage (140MW) assets in Sweden. Landinfra believes developing the portfolio will require a total investment of more than €1.5 billion.
The first projects could be built this year, depending on the developers securing permitting approval, Landinfra stated.
The transaction is still subject to regulatory approval.
Landinfra is led by Nordic wind power veteran Marcus Landelin, who has previously held senior wind power roles at Eolus Vind and E.on.
He said: “Jointly we will bring the necessary capabilities and financial strength to add new and much needed sustainable energy production to SE3 and SE4." Electricity supply is divided into several zones across Sweden. The SE3 and SE4 regions referenced by Landelin are the two southernmost regions.
Landelin said last year the company was investigating the potential to develop between 5-8GW of offshore wind in Sweden across nine areas off the Swedish coast.
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