Lundin Petroleum AB has announced that is has successfully farmed down 50% of its Metsälamminkangas (MLK) mid Finland wind farm project to Sval Energi AS, a portfolio company of HitecVision.
As announced on 31 January 2020, Lundin Petroleum concluded a transaction with OX2 AB (OX2) to acquire a 100% interest in the US$200 000000 MLK wind farm project, which will produce around 400 GWh per annum gross from 24 onshore wind turbines, once it is fully operational in 2022. Sval has farmed into 50% of the MLK project worth US$100 000000, which includes acquisition cost and future capital expenditure, and is on equivalent terms as Lundin Petroleum when they acquired the project from OX2.