Wind turbine specialist Vestas has entered into a partnership with Swedish utility Vattenfall and Danish pension fund PKA to build a new 353 megawatt (MW) wind energy project in Sweden. Vestas will provide the development with 84 of its V136-4.2 MW turbines, the business said in an announcement Wednesday. It will also become a shareholder via a share purchase agreement for 40 percent of the project.

In turn, PKA and Vattenfall will each own 30 percent. Total construction funding for the project is around 350 million euros ($412.34 million), according to CNBC. “The cost of renewable energy is going down, which is making the market more competitive and creating new opportunities,” Anders Runevad, Vestas’ president and CEO, said in a statement.

The project, which has been developed by Vattenfall, will see the turbines installed at the Blakliden and Fabodberget wind parks in central Sweden. The Blakliden wind park will have 50 turbines, while the Fabodberget site will have 34.

Sweden installed 197 MW of new wind energy capacity in 2017, according to figures from trade body WindEurope.