Sweden's 189 MW Wind Farm Secures Financing for 2028 Launch

A major wind energy project in Sweden just cleared a crucial hurdle, bringing clean power closer to thousands of homes.

OX2, a leading renewable energy developer, secured long-term financing from DNB Carnegie and UniCredit for the Fageråsen Wind Farm in Malung-Sälen, Sweden. The 189 megawatt project, already under construction, is scheduled to begin operations in the first half of 2028.

The wind farm will feature 27 turbines and include a 200 megawatt-hour battery energy storage system to maximize power output. For OX2, this represents an exciting first: the company's inaugural Swedish wind farm that it will own and operate directly.

Natural Power, a global renewable energy consultancy, played a key role as the lender's technical adviser. The firm conducted comprehensive reviews of technical contracts, grid connections, energy forecasting, and commercial viability to help lenders make confident investment decisions.

Dr. Joseph Gibbons, Advisory and Analytics Lead for Natural Power Ireland, emphasized the project's significance for Sweden's renewable infrastructure. His team delivered full technical due diligence to guide lenders through the project's technical, environmental, and commercial complexities.

The Ripple Effect: This wind farm represents more than just clean energy for Sweden. The combination of wind turbines and battery storage demonstrates how renewable projects are becoming smarter and more efficient, addressing one of clean energy's biggest challenges: storing power when the wind isn't blowing.

As countries worldwide race to meet climate goals, projects like Fageråsen show that the infrastructure for a cleaner future is actively being built, financed, and prepared for launch. Each turbine installed is a step toward energy independence and reduced carbon emissions.

The financial backing from major institutions like DNB Carnegie and UniCredit also signals growing confidence in renewable energy as a sound investment, not just an environmental necessity.

Sweden continues building a cleaner, more sustainable energy future, one turbine at a time.