Norway's Aneo Doubles Sweden Wind Power With 172 MW Deal

A Norwegian energy company is proving that one company's exit can be another's opportunity, snapping up 172 megawatts of Swedish wind power just as competitors retreat from the region.

Aneo signed a deal to acquire all of RWE Renewables Sweden's wind assets, including 124 MW across 11 onshore wind farms and 48 MW of nearshore wind facilities. The portfolio generates enough clean electricity annually to power roughly 100,000 Swedish homes.

The acquisition includes something equally valuable: experienced local teams who operate and maintain the facilities. RWE praised the Kårehamn nearshore facility off Öland island as one of Scandinavia's best-operated offshore wind farms, with over a decade of proven performance.

Aneo CEO Gunnar Hovland says the purchase provides significant scale in Sweden while diversifying the company's energy mix. Most of the wind farms sit in southern Sweden's SE4 price area, complementing Aneo's existing operations across the Nordic region.

The deal marks Aneo's sixth acquisition since October 2024. Combined with its recent purchase of Swedish company Arise AB, Aneo is more than doubling its Swedish production capacity while international players head for the exits.

The Ripple Effect

Aneo's counter-cyclical strategy reveals a maturing renewable energy market. While some companies chase flashier opportunities elsewhere, Aneo sees long-term value in the Nordics' steady energy demand and experienced workforce.

The company gains not just turbines and transmission lines, but decades of operational knowledge from teams who know these systems inside out. RWE confirmed it found a buyer who will keep affected Swedish employees, ensuring job continuity in local communities.

For Sweden, the transaction strengthens renewable energy reliability. Rather than facilities changing hands to distant investors, they're going to an operator committed to Nordic markets for the long haul.

The deal awaits regulatory approval in Sweden, typically a process of a few months. Once complete, the integrated teams and expanded capacity position Aneo as a major player in Nordic clean energy.

In an industry sometimes criticized for chasing incentives and quick returns, one company is quietly building something more permanent.