Project operator Svevind is facing a possible standstill in project developments following a shrinking interest among investors in the wind industry. The reason is the low energy prices in the market. Svevind has so far built 48 turbines in the 450 km2 area outside Piteå, northern Sweden. However, the company does not have the financing needed for the building of the next 77 turbines, project press spokesman Thomas Riklund says to Swedish broadcaster SVT.
According to company representative Wolfgang Krupp, a total of €300 million is needed in the nearest future, if the company is to avoid a slow-down. ”In worst case, we have to stop the project and wait for better times”, he says in a radio interview.
As previously reported, the Markbygden project includes 1101 turbines which are planned to be erected by year 2020. At full capacity, the project will generate up to 12 TWh/year, or about eight percent of total Swedish power demands and 50 percent of the country’s 2020 planning goal for wind power generation.
Still, far from all is bleak for the Markbygden project. In late May, Svevind won the approval of regional authorities for the erection of additional 440 turbines. The wind mills will be up to 200 meter high, the company informs.