Swedish property company Wallenstam has agreed to sell its entire wind power portfolio to Locus Energy (a long-term owner and developer of renewable energy assets) in a transaction valuing the wind assets at USD 87 million, ending nearly two decades of direct ownership in renewable electricity generation.

A Portfolio Built Over Nearly Two Decades

Wallenstam first invested in wind power in 2007, marking the beginning of what the company has described as a commitment to renewable energy rooted in social engagement and an ambition to support Sweden's green transition.

At the time, wind power accounted for just under one percent of Sweden's total electricity production. That figure has since grown to approximately 25 percent, a shift to which Wallenstam says it actively contributed.

The milestone the company points to most prominently came in 2013, when Wallenstam became the first listed property company in Sweden to achieve self-sufficiency in renewable electricity on a monthly basis, sourced entirely through its own wind power generation. The portfolio being sold today comprises 53 wind turbines with a combined installed capacity of 112 megawatts.

Terms and Structure of the Transaction

The sale is being carried out as a company transaction, with the wind turbines valued at USD 87 million. Locus Energy will formally take over the company once the Swedish Inspectorate of Strategic Products, known by its Swedish abbreviation ISP, has granted its approval for the deal. No timeline for that regulatory clearance was disclosed in the announcement.

Alongside the divestment, Wallenstam has entered into a separate agreement with Locus Energy for the ongoing supply of renewable energy to its property portfolio, ensuring the company retains access to green electricity even after relinquishing direct ownership of the generation assets.

Why Wallenstam Is Selling Now

Hans Wallenstam, CEO of the company, said the decision reflects both the maturity of the portfolio and the increasing technical demands required to keep the wind farms operating at a competitive level.

He noted that repowering and further investment are now necessary to develop the turbines further, and that a larger, more specialized operator is better positioned to carry out that work.

"It feels good to have contributed to the green transition of electricity generation in Sweden," Wallenstam said. "We invested early in wind power and have been on a journey where a lot has happened. Now, repowering and other investments are required to further develop the wind turbines, something that a larger and more specialized operator like Locus Energy is better equipped to do. The timing feels right."

He also pointed to the energy supply agreement as a key condition for proceeding with the sale, emphasizing the importance of maintaining a continued flow of renewable electricity to the company's properties.

A Joint Development Project on Electricity Pricing

Beyond the sale and supply arrangement, the two companies have announced a joint development project aimed at creating what they describe as a dynamic tool for electricity price agreements tailored to the real estate market.

The stated goal is to build a solution capable of accommodating property companies with varied and irregular consumption profiles, which Wallenstam says have historically been underserved by existing types of electricity pricing agreements.

Hans Wallenstam described the ambition as filling a gap in the market. "The ambition is to create a solution that also works for property companies with different and more varied consumption profiles than those traditionally covered by this type of agreement," he said.

Niklas Sörensen, CEO of Locus Energy, echoed that framing when commenting on the joint initiative, saying the companies and their partners intend to create an electricity price agreement tailored specifically to the needs of real estate companies.

He also acknowledged the responsibility of taking over an established wind power portfolio. "It is exciting to take over the baton and continue developing the wind power assets to meet future conditions," Sörensen said.

About the Buyer: Locus Energy

Locus Energy describes itself as a long-term owner and developer of renewable energy assets in the Nordic region. The company's existing portfolio spans hydropower, wind power, and battery storage, with an operational focus on developing assets already in its ownership rather than greenfield development.

Locus Energy is owned by SEB Nordic Energy, an Article 9 fund, and invests capital on behalf of that fund. Its platform is structured as part of a broader long-term partnership between SEB Asset Management and Locus Infra, which targets investments across renewable energy and infrastructure in the Nordic market. The acquisition of Wallenstam's wind farms will add 53 turbines and 112 megawatts of installed capacity to the existing base.

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