Denmark's DONG Energy will build and run an up to 33-megawatt wind farm in the northern Norway municipality of Narvik in cooperation with its local affiliate Nordkraft, DONG said on Friday.
The farm will have a capacity of between 25.3 and 33 MW, state-owned DONG Energy said in a statement.
Investment in the Nygaardsfjell 2 wind park is expected to be around 300 million Danish crown ($57.85 million), it said.
The wind farm will be owned by Nordkraft Vind AS, a 50/50 venture with Nordkraft, DONG said.
Since 2002 DONG has owned a third of Norwegian hydropower producer Nordkraft, so its stake in the Nygaardsfjell 2 project is 67 percent, DONG said.
The Nygaardsfjell 2 wind farm represents yet another important step toward our ambition to triple our production of renewable energy by 2020, DONG said.
Nordkraft's target is to produce 300 gigawatt hours of wind power over the next 10 years, its chief executive, Olaf Larsen said in the statement.
A DONG Energy spokesman said that the company had not yet chosen a wind turbine supplier for the project.