Danske Commodities has entered into a balancing agreement for the 277 MW Kolvallen onshore wind farm in Sweden, set to begin operations in 2025.
Under the deal, Danske Commodities will provide market access and balancing services to the wind farm, which is developed and managed by Swedish company Arise. The Kolvallen project is majority-owned by Foresight Energy Infrastructure Partners (91%), with Arise holding the remaining 9% stake.
This agreement aligns with Sweden's renewable energy ambitions, as the country seeks to reach 100% renewable electricity production by 2040.
As more renewable energy sources, such as wind, are integrated into Sweden's energy mix, the demand for balancing services to manage the intermittent nature of wind energy increases.
Danske Commodities, with its expertise in algorithmic trading and weather analysis, aims to expand its presence in the Swedish renewables market.
The company had already entered the market last year with a balancing agreement for 235 MW of wind capacity. It now manages a 12 GW power portfolio across Europe, serving energy producers and industrial consumers.
