EnBW Energie Baden-Württemberg AG announced Jan. 8 that it acquired seven wind farms in Sweden with a combined capacity of 105 MW.
The German energy company made its debut in the Swedish energy market with a subsidiary it established in 2018. Financial terms of the acquisition were not disclosed.
EnBW acquired 47 of 51 turbines comprising the wind farms with operating company Power Wind Partners Ab, which was equally owned by privately held asset manager Proventus AB; FAM, a company of the Wallenberg Foundation; and insurance company Folksam AB. The remaining four turbines were owned by a business also owned by Folksam.
Most of the turbines are Vestas Wind Systems A/S, EnBW said, and some are suitable for repowering.
"We only founded our Swedish subsidiary a few months ago and the fact that we are now already concluding the first major acquisition confirms our decision to selectively internationalize our business and shows the role we believe Sweden plays for us as a growth market," EnBW portfolio development head Dirk Güsewell said in a news release.
Along with the Swedish wind facilities, EnBW also acquired two grid companies.