The renewable energy company Aneo acquires two experienced development teams in Sweden with an attractive project portfolio and takes new steps towards becoming a significant player in the development, construction, and operation of renewable energy in Sweden.
— The start of 2025 is yellow and blue for Aneo, where we have succeeded with several key initiatives in our neighboring country and continue to back our words with action to achieve our Nordic ambitions, says CEO Gunnar Hovland. With this acquisition, we strengthen the value chain in Sweden in line with our strategy to become a leading industrial player in developing, building, operating, and owning renewable power production in the Nordics, says Hovland.
The acquisition of PNE Sweden in Gothenburg and VKS Wind Power Sweden in Motala provides Aneo in Sweden with a team of 5 experienced employees and several associated consultants, as well as an attractive project portfolio with over 1,000 MW of wind power and 100 MW of solar power under development in all Swedish price areas. Several of the solar projects could be ready before 2030, which would mean more new renewable power from Aneo into the Swedish system in a few years. VKS Wind Power Sweden was established in 2010 and has developed 3 wind parks that are currently operational with a total capacity over 200 MW. PNE Sweden was established in 2020 and has worked on various development projects in both wind and solar, especially focusing on Northern Sweden.
— Since the establishment of Aneo in 2022, we have systematically worked on numerous growth initiatives in Sweden, both in project development, partnerships, and acquisitions. In light of our ambitious growth plans, acquiring an experienced development environment has been high on our priority list, says Executive Vice President for Renewables at Aneo, Kari Skeidsvoll Moe, adding:
— With a strong local competence environment in place in Sweden, we will both realize the attractive project portfolio they have already developed and simultaneously build a solid platform for further scaling and new projects. Along with the announcement of the acquisition of VKS and PNE, Magnus Axelsson takes on the role of General Manager (Verkställande Direktör) for Aneo Renewables Sweden, where VKS and PNE will be merged in. Axelsson has over 15 years of experience in the European wind power industry, most recently as COO/Deputy CEO at Eolus Vind before joining Aneo in autumn 2024 to support the execution of the company’s growth plans in Sweden.
— I am very pleased that Magnus Axelsson has accepted our offer to lead our Swedish venture. With his extensive experience and broad network, we have got the right person in the right place to both realize the existing portfolio and create new business opportunities in this important market for Aneo, says Skeidsvoll Moe. Mattias Törnkvist from PNE Sweden will step into the role of Head of Project Development and lead daily project development work at Aneo Renewables Sweden. Mattias has over 20 years of experience in developing and building wind power in Sweden and Norway.
— We are very pleased to have succeeded in acquiring VKS and PNE, and that we can now welcome 5 skilled new colleagues to Aneo. With this move, we can finally gain real momentum in Sweden, concludes Skeidsvoll Moe.
Heavy Investments in Sweden
Aneo already has significant operations in Sweden in the form of wind and solar power production, power market services, electric vehicle charging, energy infrastructure, and cooling technology for the retail sector. With today's announcement, Aneo also takes a significant step into the early phases of the value chain in wind and solar power, establishing itself as a notable developer of new power production in Sweden. All this is in line with Aneo’s ambitious growth strategy to become a substantial industrial player in the Nordic renewable energy market, where Sweden is a key focus area.
Aneo is also a co-owner in the Swedish solar power developer Sunna Group. In January, it was announced that the two will build two large-scale solar parks in Sweden totaling 43 MWp, with commissioning in 2025/26.
