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(Bloomberg) -- Aquila Capital Concepts GmbH and EWZ, Zurich’s municipal electricity utility, bought 60 megawatts of wind power in southern Sweden from Eolus Vind AB.

EWZ acquired a 51 percent stake with Aquila purchasing the remainder, Hamburg-based Aquila said today in a statement on its website. The 29 wind turbines are located across four wind parks, it said. Google Inc. a year ago agreed to buy the electricity it produces. No terms were disclosed.

“The transaction underlines the growing popularity of the partnership model between utility companies and specialist financial investors,” said Roman Rosslenbroich, co-founder and chief executive officer at Aquila.

“Previously, institutional investors preferred to allocate capital to real assets through funds and direct investments. Today, we are seeing a clear trend towards co-investment structures, particularly in the renewable-energy and infrastructure segments.”

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Ana Monteiro, Randall Hackley

Bloomberg