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Alpiq and Fu-Gen enter into agreement for Swedish wind farm Tormoseröd

Lausanne – Alpiq and the Swiss company Future Generation Renewable Energy (“Fu-Gen”) have reached a co-ownership agreement for the Tormoseröd wind farm developed by Alpiq and located in Southwest Sweden. The wind farm is expected to be fully operative at the end of 2022 with an installed capacity of up to 72.6 Megawatts. It will be built and operated by Tormoseröd Vindpark AB led by Fu-Gen and Alpiq Ecopower AG (“AEP”), a subsidiary of Alpiq operating and implementing renewable energy projects in Europe.

In December 2020, Fu-Gen acquired the majority of shares (70 %) in Tormoseröd Vindpark AB, a project-company fully owned by Alpiq. The primary scope of this partnership is to build the Tormoseröd wind farm, based in the municipalities of Strömstad and Tanum, county of Västra Götaland in Sweden, and operate it over the next 30 years.

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Partnering toward clean energy production

The concession for the asset construction is already in force and all the necessary rights have been secured, enabling the project construction to start in early 2021. The wind farm commercialisation is foreseen to start at the beginning of 2023 with an intended installed capacity of up to 72.6 Megawatts, equivalent to the consumption of 8’400 Swedish households.

Alpiq will be responsible for the project management activities during the construction phase and for technical and commercial asset management during operation. Onsite Alpiq will follow up the construction with its team of specialists and support the technical and commercial operations.

Co-ownership project model to provide best quality service

Tormoseröd is an important project for Alpiq in terms of project development, financing model and risk management. The asset light approach includes a major co-investing partner for renewable energy projects, with Alpiq taking over the development part of the assets in order to provide high-quality service to its customers.

Contribution to future energy requirements

The Tormoseröd wind farm project is totally in line with the Swedish Wind Energy Association’s strategy aiming to reach a 100 % renewable electricity generation by 2040. More specifically, it meets its expectations in terms of renewable energy projects development, as wind power generation is expected to be increased from today’s 20 TWh to at least 90 TWh in 2040 and account for over half of the electricity consumption in Sweden.

Alpiq and Fu-Gen are committed to renewable energies such as wind power and perfectly in line with tomorrow’s increasingly decentralised, decarbonised and digitalised energy world.

Alpiq follows a sustainable, financially sound and risk-adjusted energy business, in order to contribute to a better climate and a greater security of supply in European markets.

About Alpiq

Alpiq is a leading Swiss energy services provider and electricity producer in Europe. Alpiq offers its customers comprehensive and efficient services in the fields of energy generation and trading as well as energy optimisation. As an international energy trader, Alpiq is active on all major European markets with unique expertise in the field of flexibility management and origination. The Alpiq Group has approximately 1200 employees and is headquartered in Lausanne, Switzerland.

The Swiss based Alpiq Ecopower AG (“AEP”) subsidiary was founded in 2011 with the purpose of operating and implementing renewable energy projects in Europe. So far AEP has been owning a total installed capacity of more than 320 MW’s in Italy, Bulgaria, France and in its home market Switzerland.

About Fu-Gen

Fu-Gen (Future Generation Renewable Energy), currently operating in Sweden and Italy with locally established teams in both countries, was founded on the initiative of a group of renewable energy experts who bring together experience in the development and construction of new projects, as well as the operation and acquisition of existing ones.

Fu-Gen development strategy aims at the creation of an extensive grid-parity portfolio made of solar, wind, and storage based projects.

The Swedish based subsidiary Fu-Gen Energi AB is currently working on the development of a wind on-shore project pipeline of more than 600MW, mainly focused on Northern Sweden, and is exploring the potential of Green Hydrogen production in the Nordics.