GE to Deliver 650 MW of Onshore Wind Turbines to Sweden

Discussion in 'In the News' started by xcel, Nov 27, 2017.

  1. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    [​IMG] 179 of the most advanced 3.6 MW wind turbines are readying to go up!

    Wayne Gerdes – CleanMPG – Nov. 27, 2017


    GE and the Green Investment Group have partnered in a 50/50 business arrangement to deliver and operate 650-MW of onshore wind in Northern Sweden. The project will be the largest single site onshore wind farm in Europe, increasing Sweden's installed wind generation by more than 12.5 percent. The equity partners raised approximately $950 million USD in financing and have commenced construction of the project, which is expected to begin producing its first amp in the second half of 2018 and be fully operational by the end of 2019.

    GE Renewable Energy will supply 179 of its 3.6 MW turbines with 448 ft. rotors, a turbine ideally suited for the project site's wind speeds and climate. The turbine blades will be equipped with an innovative ice mitigation system by LM Wind Power, ensuring a stable level of availability and reduced downtime. GE is also providing a 20-year Full Service Agreement, and through its Grid Solutions business, will provide the high voltage switchgear for two collector substations at the wind farm.


    Project Financing

    GE Energy Financial Services and Green Investment Group ("the Sponsors") have jointly acquired the project from Svevind and invested more than $357 million USD in equity to finance the wind farm. The transaction is Green Investment Group's first equity investment following its acquisition by Macquarie and its first investment outside of the United Kingdom. For GE, it represents GE Capital's strategy to invest in and structure financing solutions in support of GE in key global growth markets.

    The Sponsors' financial advisory teams sought a mix of funding from development institutions, the export-credit market and commercial banks familiar with the Nordic energy market. The project was financed on a non-recourse project financing basis with close to $595 million USD in debt financing secured from European Investment Bank (EIB), Export Credit Guarantees of the Federal Republic of Germany (Hermes Cover), NordLB (acting as MLA advisor and ECA bank), KfW IPEX-Bank and HSH Nordbank.

    GE and Green Investment Group originated and structured a 19-year fixed volume Power Purchase Agreement (PPA) with a subsidiary of Norsk Hydro, one of the largest aluminum producers in the world. The PPA enables Norsk Hydro to fix the price of a significant portion of the electricity demand for their Norwegian aluminum manufacturing facilities, producing approximately 110,000 tons of aluminum per year. NEAS Energy (part of Centrica plc) will provide an innovative structure for the sale of Elcerts (renewable energy certificates), balancing and hedging services for Markbygden ETT. The PPA is understood to be the largest corporate wind energy PPA in the world.

    Green Investment Group conducted a green impact assessment on the project, using the green reporting approach set out in its Green Investment Handbook.

    The Markbygden ETT project was developed over 15 years by Swedish wind developer Svevind. In total, its development work in the Markbygden area may lead to 1,101 wind turbines becoming operational, in what would be the largest collection of wind farms in Europe. The project will be realized on properties owned by Sveaskog Förvaltnings AB, Sweden's largest forest owner, SCA Skogsfastigheter AB, the largest private forest holding in Europe, and several private property owners.

    Anyone want to consider another clean big power method to power a future electric car?
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  2. EdwinTheMagnificent

    EdwinTheMagnificent Legend In His Mind

    It doesn't get much better than this.
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  3. phoebeisis

    phoebeisis Well-Known Member

    Where are the components manufactured?
    137 meter hub height-400-450 feet above the water-
    How deep is the water where they are anchored?
    How far offshore?
    Just how do you anchor something that tall with those sorts of forces-wind waves current?
    USA- has the most "useable wind potential" of any country on earth-
    lotta coastline sea conditions weather conditions not too bad
    and our offshore potential is reasonably NEAR big cities-huge population centers

    Unfortunately we also have LOTS of cheap fossil fuel-(biggest coal reserves-and more NG being made available)

    I love wind farms-the ones in TX (1-40 AND I-10) are really SCI-FI looking at night in thunderstorms-strobing etc
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  4. BillLin

    BillLin MASS: 2012 Pip and 2017 Prime

    Charlie, I believe the key word in the article is "onshore"...
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  5. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    Hi Charlie and Bill:

    Almost 4 MW per wind turbine is huge! And like everyone else, how the heck does a hub that maybe just 10' diameter hold blades that are 225' long, probably weigh 5-tons apiece, and each has to transmit 1.25 MW into that transmission?

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  6. RedylC94

    RedylC94 Well-Known Member

    What (minimum?) wind velocity does that rating assume? Output is bound to be a lot lower in lesser winds.
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  7. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    Hi RedylC94:

    According to the wind class scale, a 16.8 mph wind will bring about full power output.

    Wind Class

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