VINCI Airports has agreed to sell its 90.1% stake in Stockholm Skavsta Flygplats, which owns Stockholm Skavsta Airport in Sweden, to Swedish real estate company Arlandastad Group

The financial details of the deal have not been disclosed by the companies.

Subject to fulfilment of the conditions precedent, the deal is expected to close in April.

Under the agreement, Arlandastad Group has committed to developing 484ha of airport land by partnering with the municipality of Nyköping.

A Local Urban Plan is being developed to create a logistics zone and large-scale business park.

Additionally, Vinci Airports and Arlandastad Group have signed an agreement, which will enable SunMind, a Vinci Concessions subsidiary, to finance, build and operate a solar farm on the airport site.

The solar power facility will be built on a 100ha area and have the capacity to generate 100MW of clean energy.

Upon completion, the solar farm would become one of the largest power plants in the country. It will be linked to the public grid to deliver renewable energy to the municipality of Nyköping.

Arlandastad and Vinci Concessions will also focus on developing a programme of photovoltaic (PV) power plants in Sweden, especially on land owned by Arlandastad Group.

Vinci Airports president and VINCI Concessions CEO Nicolas Notebaert said: “This double success marks both a structuring step for VINCI Concessions’ photovoltaic business and the continuation of our airport strategy, based on investing in assets with high growth potential.

“We are very pleased to be working with Arlandastad Group, a sound partner to the Nordic photovoltaic market, and a company that will continue the development initiated by VINCI Airports at Stockholm Skavsta, in partnership with the municipality of Nyköping.”

In January, Vinci Airports took control of Manaus International Airport in Brazil.