The Swedish property firm divests its 53-turbine wind assets to focus on renewable energy supply agreements amid sector growth.
Wallenstam has agreed to sell its wind farm portfolio, consisting of 53 turbines with a total capacity of 112MW, to Locus Energy for $87.46m. The deal includes regulatory approval from Sweden’s Inspectorate of Strategic Products and secures Wallenstam’s renewable energy supply through a separate agreement with the buyer.
The company first entered wind power in 2007 and became the first listed property firm to achieve monthly self-sufficiency in renewable electricity in 2013. Sweden’s wind sector has since expanded, now accounting for roughly 25% of national electricity output, up from less than 1% at the time of Wallenstam’s initial investment.
Wallenstam CEO Hans Wallenstam stated the sale aligns with the need for repowering and further development, tasks better suited to a specialized operator like Locus Energy. The transaction reflects a strategic shift while maintaining renewable energy access for its properties.