Shanghai-based smart energy technologies and services provider Envision Energy has acquired a 25 MW onshore wind farm in Sweden.
The acquisition marks the largest Chinese wind farm investment to date in Sweden and market entry of a new technology provider.
The developers of the wind farm, Christer Öholm and Paula Tidefjärd, sold an undisclosed stake in the asset to Envision Energy while retaining partial ownership.
Located in the municipality of Eskilstuna, the 25 MW Kafjärden wind farm will utilize Envision's smart wind turbines along with the full life cycle management system consisting of the "Greenwich" cloud platform and the Wind OS management system.
Envision will accelerate construction immediately and targets start of commercial operation by September 2016.
The project has a very competitive cost of energy and a good fit with the intended turbine technology. Newsec has acted as exclusive financial adviser to the seller.
Felix Zhang, Executive Director and Head of International Business at Envision, has commented:
"We are very excited about this acquisition as the first project investment in our European expansion and believe that it will be a great opportunity to via this wind farm demonstrate our technological ability and innovative approach."
Envision Energy is currently the third largest wind turbine supplier in China. The company manages 10 million kilowatts of global alternative energy assets and is the largest smart energy management firm in the world.
IPP Journal has recently reported on several large-scale wind projects globally: