Zephyr sells offshore wind power projects to Vattenfall

Vattenfall acquires the majority stake in Zephyr’s two offshore wind power projects Poseidon and Vidar on the west coast of Sweden. Zephyr and Vattenfall will now continue the development of the projects together.

The two wind power projects Vidar and Poseidon are located in Skagerrak between 25-27 km outside the west coast of Sweden. They will primarily consist of floating wind turbines and are expected to have a total installed capacity of approximately 2.8 GW and an annual production of 10.5 TWh of renewable electricity. This is equivalent to the electricity consumption of about 1 million Swedish households.

After the acquisition, Vattenfall’s holding in Vidar and Poseidon is 85 percent and Zephyr owns the remaining 15 percent. The companies will further develop the projects together and apply for necessary permits for establishment.

Region with high demand for electricity
“Zephyr is very pleased that together with Vattenfall we can now proceed with the development of the projects Poseidon and Vidar. It is important to ensure new renewable electricity production in southern Sweden, both for the climate and for our society that is facing a highly increasing electricity consumption,” says Martin Pettersen, at Zephyr in Sweden.

“We are very pleased that together with Vattenfall we can now continue the development of the Poseidon and Vidar projects. This ensures our long-term commitment to floating offshore wind,” says Olav Rommetveit, CEO of Zephyr AS.

Vattenfall is one of Europe’s largest producers of renewable energy and a leading company within offshore wind power.

“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,” says Helene Biström, Head of Business Area Wind at Vattenfall.

About Zephyr:
Zephyr promotes renewable electricity generation, primarily through the development, construction and operation of wind farms. The company started in Norway in 2006 and since then has expanded its operations to Iceland and Sweden, the company’s Swedish office is located in Gothenburg. Since its inception, Zephyr has developed and built around 800 MW of wind power. It is owned by the Norwegian publicly owned power companies Østfold Energi, Vardar and Glitre Energi.

About Vattenfall:
Vattenfall is a leading European energy company which, for over 100 years, has electrified industries, supplied energy to people’s homes and modernized our way of life through innovation and cooperation. Vattenfall employs approximately 19,000 people and operates mainly in Sweden, Germany, the Netherlands, Denmark and the UK. Vattenfall is a leading player in offshore wind power with around twelve active offshore wind farms in Europe and a capacity of 9 GW under development.

For further information, please contact:

Martin Pettersen, vd Zephyr Renewable AB +46 70 756 09 10 martin@zephyrvind.se