Zephyr Sells Majority Share of Two Offshore Wind Projects to Vattenfall

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Vattenfall is purchasing the majority share in two offshore wind projects off the coast of Gothenburg, Sweden, from wind power company Zephyr. Once fully developed, the projects are expected to generate 10.5 TWh of fossil-free electricity annually.

The two wind projects, named Vidar and Poseidon, are located between 25 and 27 kilometers off the Swedish west coast, north of Gothenburg. After the acquisition, Vattenfall’s ownership will amount to 85%. Together with Zephyr, the early-stage projects will be further developed and the necessary permits for establishment applied for. Vidar and Poseidon, which will primarily consist of floating wind turbines, are expected to have a combined capacity of 2.8 GW and an annual production of 10.5 TWh.

“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,” says Helene Biström, head of business area wind at Vattenfall. “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.”

“Zephyr is delighted to be able to continue with the development of the Poseidon and Vidar projects together with Vattenfall,” states Martin Pettersen, CEO of Zephyr Renewable. “There is a pressing need to ensure that new electricity generation can become a reality in southern Sweden, both for the climate and our society, which is facing a sharp increase in electricity consumption. Poseidon and Vidar, as large-scale offshore wind power projects, are in a good position to contribute significantly towards this.”

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