European Energy Group has closed the sale of the Zinkgruvan Wind Farm to a German-based asset management company. Zinkgruvan Wind Farm has entered a 10-year offtake agreement with a large international utility.
The wind farm is located 70 km north of Linköping, Sweden, near the northern end of the Vättern Lake. The wind farm has a capacity of 53.2MW and consists of 14 GE Renewables turbines with a capacity of 3.8MW, a rotor size of 137 meters and a hub height of 110 meters. Zinkgruvan was constructed and grid connect earlier this year. The divestment and one-time income has contributed positively to the company’s earnings. Accordingly, for 2019, European Energy now expects profit before tax of EUR 35-37 million (previously EUR 30-35 million) and EBITDA of EUR 45-47 million (previously EUR 40-45 million).
