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Construction of phase 3 at Midtfjellet

02.06.2017

Midtfjellet Vindkraft AS made a positive investment decision for the phase 3 development at Midtfjellet on 23 May 2017.


Vardar - Midtfjellet Vindkraft

Phase 3 is a further development / densification of existing Phase I and Phase II. The expansion will consist of 11 new Nordex N117 / 3600 turbines. Existing infrastructure like roads and transformer station will be used for Phase 3, and only 3 km of new roads will be constructed.

Phase 3 will be funded by an investment vehicle managed by Aquila Capital, who is the major owner at Midtfjellet Vindkraft AS. This will lead to a dilution of the other shareholders, and Vardar will decrease it’s ownership share from about 14% to 8% when phase 3 has been completed.

The work of roads / Crane pads, foundations and cable trenches will start in May 2017 and will be completed in December 2017. The new turbines will arrive in April 2018 and will be operational by October 1, 2018.