May 16, 2018 / 10:46 AM / 12 days ago

Turbine maker Vestas buys majority stake in Swedish wind farm

COPENHAGEN, May 16 (Reuters) - Swedish utility Vattenfall has brought Danish turbine maker Vestas and pension fund PKA onboard as shareholders in what will become one of Sweden’s largest onshore wind farms.

Vestas said it would become a 40 percent shareholder in the project through a share purchase agreement, while PKA and Vattenfall will each own 30 percent.

“The cost of renewable energy is going down, which is making the market more competitive and creating new opportunities,” said Vestas Chief Executive Anders Runevad in a statement.

$1 = 0.8477 euros Reporting by Stine Jacobsen, editing by Louise Heavens

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