Aquila Capital has acquired two operational wind farms in Finland from the Finnish subsidiary of Central European cleantech investment group Janom.
Tuulivoimayhtiö Pohjoistuuli has sold the wind farm assets, which are valued at €120m and total 70MW.
Janom first invested in the Soidinmäki and Tyrinselkä wind farms through Tuulivoimayhtiö Pohjoistuuli in 2012, at a time when installed wind power capacity in Finland was 231MW.
Tuulivoimayhtiö Pohjoistuuli has operated Tyrinselkä and Soidinmäki through their entire life cycle, from preparation, through to the permit and the power purchase agreement, as well as the securing of bank financing for construction and overseeing the construction.
It was also responsible for the day-to-day operating of the wind parks and following the agreement of the transaction partners, Tuulivoimayhtiö Pohjoistuuli will continue to manage both wind parks for Aquila Capital.
“At a time when Europe must move rapidly to secure its energy supplies and dramatically reduce its carbon emissions to meet netzero targets, wind farms are a crucial part of the solution,” said Janom chief executive Andrej Srsen.
“Finland took an early decision to encourage investment in wind energy, which presented significant opportunities for Janom to leverage its expertise in cleantech and build a robust business that has grown significantly in the last decade.
“It underlines the potential for cleantech investment across the whole of Europe and we are currently targeting Western Balkan countries, which are at a similar stage to Finland in 2012 and where the impact of these types of investments on climate is currently the highest.”