Eolus Vind AB has signed a 15-year power purchase agreement to sell 100% of the output from its planned 330-MW Øyfjellet wind farm in Norway to Alcoa Norway ANS.

The wind farm is expected to go online in 2021 and will be able to produce 1,200 GWh annually for the Alcoa Inc. subsidiary's production plant in nearby Mosjøen.

As part of the deal, Eolus signed a power purchase guarantee with the Norwegian Export Credit Guarantee Agency. The guarantee amount is €256 million.