MEAG, Munich Re’s asset manager, is to acquire from Eolus two wind farms totalling 38.4MW for Skr425m.

The deal covers the delivery of eight Vestas V112 3.3MW turbines the 26.4MW Iglasjon wind farm Iglasjon in Kungsbacka municipality and the operational 12MW Jung-Asa project in Vara municipality.

Jung-Asa has been operating since 2014 and consists six Vestas V90 2MW units.

Iglasjon is under construction and is scheduled to start operating during 2016.

As part of the agreement, Eolus will provide technical, operational and administrative services for both projects.

The companies said the transaction is “subject to a number of conditions before closing, which for Jung-Asa is expected to occur in January 2016 and for Iglasjon at its completion in December 2016.

MEAG Managing Director Holger Kerzel said: “With the expansion of our existing portfolio in Sweden we are adding more sustainable investments with calculable risks and attractive returns to our portfolio, leveraging the know-how of the entire Group says.

“Sweden is an attractive location for investments in onshore wind due to its favourable wind conditions.”

Image: Morgue File