Eolus signs 330 MW PPA with Alcoa for Øyfjellet wind farm in Norway

Eolus has signed a Power Purchase Agreement with Alcoa Norway ANS. Alcoa set to purchase all electricity generated by the new 330 MW wind farm Øyfjellet in Norway, slated to be commissioned in 2021.

Under the terms of the 15-year duration of the PPA, Alcoa will purchase all the electricity produced at the wind farm anticipated to be 1.2 TWh annually. Alcoa will use the electricity to provide its production plant in nearby Mosjøen with locally produced electricity.

The long-term nature of the PPA contract ensures that Eolus will be able to start the construction of the wind farm in 2018, and that Eolus can offer investors an interesting investment opportunity in the Nordic market, with a guaranteed long term PPA. By commissioning the wind farm in 2021 it will qualify for electricity certificates within the common Norwegian and Swedish system.

Marcus Landelin, COO at Eolus said “We are very pleased with the fact that Alcoa has chosen to partner with Eolus and sign a PPA that will provide their production plant in Mosjøen with locally produced electricity. In addition to Alcoa providing jobs in Mosjøen the wind farm will give the local community new business opportunities and jobs for many years .”