Equinor Acquires 95 MW Wind Farm in Sweden
Norwegian energy major Equinor ASA has acquired the operational 95-megawatt (MW) Lyngsåsa wind farm in Alvesta, southern Sweden, from SUSI Partners. The company said in a media release the acquisition is in line with its onshore renewables strategy of being a market-driven power producer across select markets in Europe and the Americas.
The wind farm generates around 300 gigawatt hours (GWh) annually, which corresponds to approximately 10 percent of Equinor's renewable power production for 2024, according to the company. The facility has been in production since September 2021. It consists of 22 wind turbines with a combined installed capacity of 95 MW.
The produced power will be sold in the southern Swedish spot market and increase Equinor’s merchant exposure with immediate operational cashflows, the company said.
As a result of the transaction, Equinor now fully owns the special purpose vehicle company Lyngsåsa Kraft AB. BayWa r.e will maintain its position as the technical and commercial manager of the wind farm for Equinor. The deal received all required regulatory approvals and was finalized on March 19, 2025.
The investment follows the finalization of the financing package for the $3 billion Empire Wind 1 offshore wind project in the United States at the end of last year.
The U.S. project, expected to power half a million New York homes by 2027, represents a total capital investment of approximately $5 billion, factoring in anticipated tax credits and terminal usage fees, Equinor said. Having acquired the lease in 2017, Equinor secured a 25-year power purchase agreement with New York state in June 2024, at $155 per megawatt-hour, reflecting typical investment levels for the nascent U.S. offshore wind sector. Equinor plans to bring in a partner to reduce its financial exposure and maximize the project's value.
Construction of the Empire Wind 1 offshore wind project has already begun. It is located 15-30 miles southeast of Long Island and spans 80,000 acres. With a contracted capacity of 810 MW, Empire Wind 1 will be the first offshore wind project to connect to the New York City grid, Equinor said.
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