The 1.06 GW Fosen complex in central Norway, Europe’s largest onshore wind power project, has seen its latest turbine installed. The last of the 277 wind turbines supplied by Vestas was installed on the Geitfjellet subproject, Recharge reported, citing the majority owner of the project, Norwegian state power company Statkraft.
Statkraft CEO Christian Rynning-Tønnesen recently said the company was nearing completion of the Fosen wind power complex, construction of which began in 2016.
Statkraft, Europe’s largest renewable energy producer, has a 52.1% stake in the Fosen project, while 40% is held by Nordic Wind Power, a consortium led by Credit Suisse Infrastructure Partners. The rest is owned by local power company TrønderEnergi.
The project comprises six wind farms, which together will produce 3.6 TWh of wind power per year, according to Statkraft.
During the development of the wind project, Statkraft and its partners faced obstacles such as heavy snowfall and the COVID-19 pandemic, but also protests from the local reindeer herding community, who claimed that some of the wind turbines destroyed pastures and could ruin their shape. traditional. of life. However, this claim was rejected by the investors.
Fosen may face lack of profitability due to low prices. Another problem investors are facing is a drop in electricity prices in the Nordic market, which could undermine the profitability of the project.
However, while acknowledging that prices fell 84% to € 5.60 / MWh in the second quarter due to heavy snowmelt and full hydraulic reservoirs, Rynning-Tønnesen said a strong recovery is expected, and that prices are likely to increase to about € 25 / MWh in 2021.
Statkraft produces hydroelectric, wind energy, solar and gas power, supplies district heating, and employs 4,000 people in 17 countries.