Investment Plan for Europe supports largest European onshore windfarm in Northern Sweden

The EIB has signed a €180 million financing agreement for the construction and operation of the largest onshore wind farm on European territory so far. 179 wind turbines will be built near the Northern Swedish city of Piteå, close to the Arctic Circle. Of the EIB financing €100 million are backed by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe. GE Renewable Energy will supply the project with its 3.6 MW turbines with 137 metre rotors, a turbine ideally suited for the project site’s wind speeds and climate. Additionally, the turbines will be equipped with de-icing technology. The project is part of the first phase of “Markbygden 1101”, the largest single site onshore wind farm in Europe, which is expected to be completed by 2020. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Investing in renewable energy by building wind farms helps to access affordable, clean and secure energy. However, these large, innovative projects involve a higher level of risk for investors, which is where the Investment Plan comes in, providing its guarantee to enable other investors to come on board. The construction of this ground-breaking wind farm will confirm Sweden’s position as one of the most forward-looking, sustainable countries in the EU.“