Renewable Power Capital has signed two ten-year power contracts with LyondellBasell, the chemicals group, for two wind farms it is building in northern Sweden. Together they cover 252 MW. That is the largest slice of a 553 MW cluster of four wind farms, and RPC sold the rest of the cluster to two other buyers within the same few months. The cluster was planned as one project. It was sold as four.
Key takeaways
- Renewable Power Capital signed two 10-year power purchase agreements with LyondellBasell, announced on 22 February 2024, for the 154 MW Storhojden and 98 MW Knasjoberget onshore wind farms in Sweden, expected to generate about 720,000 MWh of wind power a year.
- Storhojden and Knasjoberget are part of Renewable Power Capital's 553 MW cluster of four wind farms in the Kramfors and Solleftea municipalities, for which RPC ordered 80 Nordex turbines, with installation starting in spring 2025.
- In January 2024, Renewable Power Capital signed a 10-year PPA with Ardagh Glass Packaging-Europe for 100 percent of the capacity of the 161 MW Vitberget wind farm, part of the same Swedish cluster.
- In April 2024, Renewable Power Capital signed a 10-year PPA with Procter & Gamble for more than 90 percent of the output of the 140 MW Sorlidberget wind farm, leaving nearly 100 percent of the 553 MW cluster contracted.
- Enerdatics records 16 wind PPAs in Sweden announced in 2023 and 2024; none discloses a tariff, and the LyondellBasell contracts, at 252 MW, are the largest by capacity.
Why does a wind cluster get sold to several buyers rather than one?
Because few corporate buyers need 553 MW of wind power, and those that do rarely want all of it from one place. A corporate PPA is sized to a buyer's own electricity use, or to the share of it they want to cover with a long-term contract. A cluster of four wind farms produces more than most single buyers can take.
Splitting by wind farm solves that. Each of RPC's four sites is a separate asset with its own output, so each can carry its own contract. Ardagh took all of Vitberget. Procter & Gamble took more than 90 percent of Sorlidberget. LyondellBasell took two whole sites, Storhojden and Knasjoberget, which is why its contracts are the largest of the three.
The cluster still behaves as one project in construction. All four farms share a single turbine order of 80 Nordex machines, and they sit in the same two municipalities in Vasternorrland. Building them together lets one turbine order and one construction programme serve all four. Selling them separately matches each farm to a buyer of the right size.
How much of the cluster did LyondellBasell take?
About 46 percent. Its 252 MW against the cluster's 553 MW makes LyondellBasell the anchor buyer. Ardagh's 161 MW covers about 29 percent, and Procter & Gamble's contract on the 140 MW Sorlidberget farm covers most of the remaining quarter.
The output figure gives a sense of what LyondellBasell is buying. About 720,000 MWh a year from 252 MW implies the two farms run at roughly a third of their maximum possible output across the year. That ratio, known as the capacity factor, measures how much a wind farm actually generates compared with running flat out all year.
The order of signing also matters. Ardagh signed first, in January 2024, and its contract covered a farm Leap's record describes as newly built. LyondellBasell followed in February for two farms that were still to be built. Procter & Gamble closed the cluster in April. By then RPC could say that nearly all 553 MW had a buyer before most of the turbines were in the ground.
Why do Swedish wind PPAs keep landing on ten years?
Because ten years has become the market's standard term for corporate contracts on new Swedish wind. Every contract in RPC's cluster runs for ten years. So do most of the other Swedish wind PPAs Leap records.
Ten years is long enough for a developer to use the contract to support financing, and short enough for a corporate buyer to commit without pricing power decades into the future. The term leaves the later years of a wind farm's life exposed to the market, which is a risk the owner keeps.
Enerdatics' data shows how standard the terms have become and how little is disclosed. Enerdatics records 16 wind PPAs in Sweden announced in 2023 and 2024. Of the 11 that disclose a duration, 10 run for ten years; the other runs for eight and a half. Ten disclose a capacity, totalling about 910 MW. Not one discloses a tariff. RPC signed four of the 16, covering 685 MW, or about three quarters of all the disclosed capacity. Its fourth contract, with Faurecia in May 2023, covers the 146 MW Klevberget wind farm outside the cluster.
What does the deal signal for Swedish wind?
It signals that industrial buyers from outside Sweden have become a central source of long-term contracts for new Swedish wind. LyondellBasell is a chemicals producer, Ardagh makes glass packaging, and Procter & Gamble makes consumer goods. None is a Swedish utility. Other industrial groups have taken a similar route: Borealis, the chemicals and plastics group, signed a ten-year Swedish wind contract with Axpo in the same month, as Enerdatics explained in how Axpo sells Borealis wind power from farms it does not own.
It also shows how a financial owner can de-risk a large build. RPC is an investor rather than a utility. Contracting nearly all of a 553 MW cluster before construction gives it the revenue visibility needed to finance the turbines. Sales of operating or near-complete Swedish wind farms, such as BKW's purchase of 125 MW from Eolus, show where that kind of contracted cluster can end up.
For anyone tracking Nordic power prices, the gap is the tariffs. With none disclosed across 16 contracts, the PPA market in Sweden can be measured in megawatts and years, but not in price.
Frequently asked questions
What did LyondellBasell sign with Renewable Power Capital? Two 10-year PPAs, announced on 22 February 2024, for the 154 MW Storhojden and 98 MW Knasjoberget wind farms in Sweden, expected to produce about 720,000 MWh a year.
Where is Renewable Power Capital's Swedish wind cluster? In the Kramfors and Solleftea municipalities in northern Sweden. It comprises four wind farms totalling 553 MW: Storhojden, Knasjoberget, Vitberget and Sorlidberget.
Who else buys power from the cluster? Ardagh Glass Packaging-Europe takes all of the 161 MW Vitberget farm under a contract signed in January 2024, and Procter & Gamble takes more than 90 percent of the 140 MW Sorlidberget farm under a contract signed in April 2024.
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