Aneo acquires RWE’s Swedish wind power portfolio

The acquisition comprises 124 MW of onshore wind across 11 wind farms, 48 MW of nearshore wind power, project development, and operations and maintenance services.

The operational portfolio produces approximately 500 GWh annually, primarily in the Swedish price area SE4. The nearshore facility, Kårehamn, off the coast of Öland, has over 10 years of operational experience and is one of Scandinavia's best-operated offshore wind farms.

CEO of Aneo, Gunnar Hovland, commented: “This is a portfolio we have looked at with great interest, and we are very pleased to have closed this agreement. The acquisition gives us significant scale in the Swedish market and diversifies our production geographically and technologically. Together with the Arise transaction, we are now establishing ourselves as one of the leading Nordic players in renewable energy.

The transaction also includes RWE’s Swedish development portfolio and employees with expertise in operations, maintenance, and project development.

Hovland continued: “We look forward to getting to know the employees and the business better. With Aneo, Arise, and the RWE portfolio combined, we now have a breadth and competence that opens up many opportunities.”

The acquisition comes in addition to Aneo's acquisition of Swedish Arise AB, where Aneo recently passed 97% acceptance rate in its voluntary public takeover offer. Arise will be delisted from Nasdaq Stockholm during January 2025, and Aneo will then take over the board of the company.

Hovland concluded: “With Arise and the RWE portfolio in place, we are strengthening our position in the Swedish market and in the Nordic region. The two transactions complement each other well in terms of geography, competence, capabilities, and value chain. We are more than doubling our production in Sweden and gaining access to skilled and experienced teams in both operations and development.”

While several international players have withdrawn from the Nordic wind power market over the past year, Aneo has positioned itself counter-cyclically. This is the sixth transaction the company has completed since October 2024, and with Arise and the RWE portfolio, Aneo strengthens its position as a long-term Nordic renewable energy company.

The transaction has been signed and is subject to regulatory approvals in Sweden, which typically takes a couple of months.

Katja Wünschel, CEO RWE Renewables Europe & Australia, added: “We are delighted that our Swedish wind business and its project teams will be joining Aneo. As a key player in the Nordic wind sector, Aneo is dedicated to building a robust, long-term portfolio in Sweden, advancing energy projects that meet rising energy demand, create jobs, and invest in communities. We are therefore pleased to have found a new home for our impacted employees, and we wish the Swedish team and its projects continued success. RWE’s strategic focus remains on its dynamic markets for attractive large scale renewables growth.”

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