Enlight Renewable Energy has reported that it has signed a series of agreements to acquire, invest in and construct a 113MW wind farm in Sweden. The Picasso project is located in southern Sweden and is expected to include 27 wind turbines with a capacity 4.2MW each.
Initial construction works will commence immediately, and Enlight estimates that the financial closing of the project will be completed in the fourth quarter of 2019, with commercial operation expected in the first half of 2021. The total investment in the project is estimated at € 135-140 million. The company will sell approximately half of the electricity produced by the facility for the first 12 years under a commercial agreement for the sale of electricity, and the balance of production will be sold on the electricity market of northern Europe, the Nord Pool. The supply and service agreements for the turbines were signed with Vestas and include a guarantee for a lifespan of 30 years for the turbines.