Mandate

Vinge advises Fortum in connection with joint venture concerning the construction of one of Europe’s largest onshore wind farms

September 03, 2010

Vinge has advised Fortum in connection with its entry into a joint venture agreement with Skellefteå Kraft concerning the construction of a wind farm in the Storblaiken region in Västerbotten province.

Under the terms of the joint venture, Fortum holds 40 per cent of the joint venture company, Blaiken Vind AB with the remaining shares being held by Skellefteå Kraft. The wind farm will be built by Blaiken Vind in stages commencing in 2011 and with final completion in 2015. When completed, the wind farm will consist of 100 wind turbines with an installed capacity of 250MW, which means that Blaiken will be one of the largest onshore wind farms in Europe. The parties’ total investment amounts to approximately SEK 3.8 billion and the electricity generated will be sufficient to cover the electricity requirements of 115,000 flats.

Fortum conducts operations in the Nordic countries, Russia, the Baltic States and Poland and is one the largest energy producers in the Nordic countries. The Blaiken project is Fortum’s largest wind power investment to date.

Vinge’s team consisted of responsible partner Johan Göthberg together with associate Karl Svantemark. Thomas Sjöberg and Johan Cederblad dealt with real estate and environmental law issues, Per Karlsson and Helena Höök competition law issues and Maria Schultzberg tax law issues.

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