The European Investment Bank, Mirova and Eolus are co-investing in the construction of the 20MW Langmarken wind farm located in Värmland County in Sweden.

The EIB and Mirova-Eurofideme 3, a renewable energy fund managed by Mirova, will own 90% of the wind farm, while Eolus will retain the remaining 10%.

Eolus will build and manage the Langmarken wind farm, which is the first EIB project in Sweden under the European Fund for Strategic Investments.

EIB is investing €16m in the wind farm.

The transaction includes six Vestas V126 3.3MW wind turbines.

A further two turbines at the wind farm have been respectively acquired by the City of Malmö and the local Kalmar County Council.

The project is fully permitted and its construction started in January.

Commissioning is scheduled for the first quarter of 2017.

EIB vice-president responsible for operations in Sweden Jan Vapaavuori said:  “This first EIB project in Sweden under the Investment Plan for Europe is only a start of the EFSI rollout in this country, within which we have been developing new financial products aiming to extend the EIB’s risk capacity and market reach.”

Image: Vestas V126 units (Vestas)