SWM completed acquisition of a 70% stake in Midgard Vind Holding for $118m.

Stadtwerke München, a German communal company, completed the acquisition of a 70% stake in Midgard Vind Holding, an operator of wind power plants, from TronderEnergi Kraft, NTE Energi and Sarepta Energi, power generation companies for $118m. TronderEnergi retained 30% of Midgard Vind. Following SWM's acquisition of the shares in Midgard Vind Holding, an investment decision has already been made for the four greenfield projects, totaling 1,160 GWh and $381k of investments. SWM and TronderEnergi have also agreed to establish a management company that will build and operate the wind portfolio. The management company is named TronderEnergi Vind, and will be owned 51/49 by TronderEnergi and SWM.