Eolus will provide technical, operational and administrative services for the wind farms on a long-term contract. Credit: Eolus Vind.

Swedish wind power developer Eolus has completed the construction of three onshore wind farms in Sweden and handed them over to owner BKW.

The Skallberget/Utterberget, Tjärnäs and Rosenskog wind farms were acquired by BKW in June 2023.

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They feature 19 turbines and have a combined installed capacity of 125MW, generating 330GWh of clean energy annually.

More than 50% of the construction was already completed at the point of sale.

The successful completion of the projects underscores Eolus’ commitment to advancing renewable energy infrastructure.

Eolus has continued to oversee construction on behalf of BKW through a construction management agreement.

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The projects are located in the municipalities of Avesta, Hedemora and Falköping in the southern part of Sweden’s price area SE3.

The wind farms will provide sustainable electricity for both private individuals and businesses in the region.

BKW acquired the projects for an enterprise value of €189m ($208.21m), along with a €19m share purchase price.

The completion of the projects will see Eolus record the remaining revenues in the fourth quarter of 2023, with the anticipated receipt of payments at the beginning of the first quarter of 2024.

Eolus CEO Per Witalisson stated: “We are proud to be able to hand over the projects to BKW on time and within budget. We now look forward to cooperating with BKW also in the operational phase, where Eolus has a strong track record of delivering technical and administrative asset management services.”

In December 2023, Eolus acquired YIT Energy, a renewable energy division of Finnish construction company YIT.

Eolus acquired a 100% stake for a fixed purchase price of €25m along with €10m to be paid in instalments between 2024 and 2025.