Suomen Hyotytuuli Oy has announced that it will carry out a full demerger to strengthen its offshore wind production.
The company’s wind farms will be transferred to a new group by the same name, whereas Tahkoluoto Offshore Oy will assume ownership of the Tahkoluoto demonstration and extension project.
Arenso Oy will provide wind energy life-cycle services to both Suomen Hyotytuuli Oy and Tahkoluoto Offshore Oy. Suomen Hyotytuuli’s wind energy production and ongoing projects will continue without interruption throughout the demerger.
The demerger will help Suomen Hyotytuuli prepare for a significant rise in energy production and investments in offshore wind.
It will allow for cost-efficient and flexible use of resources and wind energy expertise, as well as open up possibilities for further development of ownership structures and investment partnerships.
The three new companies will be owned by Suomen Hyotytuuli’s current owners: Alva-yhtiot Oy, Helen Oy (Oy Mankala Ab), Lappeenrannan Energia Oy, Lahti Energia Oy, Oy Turku Energia – Abo Energi Ab, Pori Energia Oy, Tampereen Energia Oy and Vantaan Energia Oy.
Suomen Hyotytuuli’s onshore wind farms and the current Tahkoluoto offshore wind farm will be owned by the new Suomen Hyotytuuli Oy.
The Tahkoluoto demonstration and extension project will be transferred to Tahkoluoto Offshore Oy.
Both companies will buy wind farm life-cycle services, such as development, construction, operation and maintenance and dismantling services from Arenso Oy. The current personnel of Suomen Hyotytuuli will be transferred to Arenso Oy.
The demerger process begins with filing the demerger plan with the Finnish Patent and Registration Office on March 8, 2024. The demerger is planned to be completed by the end of summer 2024.
Toni Sulameri, Managing Director of Suomen Hyotytuuli, will act as Managing Director for Arenso Oy, Suomen Hyotytuuli Oy and Tahkoluoto Offshore Oy.
“Developing, building and investing in offshore wind energy differs greatly from onshore wind projects. We will continue with our tried and tested models for onshore wind production, and the new company structure will heighten our potential in offshore wind,” Sulameri said.