OX2 has announced plans to sell the Niinimaki wind farm in Finland to Finnish energy company Helen and Bank of Aland’s Wind Power Fund.
The wind farm will consist of 22 turbines and have a total installed capacity of 145MW.
Construction of the Niinimaki wind farm is set to begin immediately, and the project is expected to be completed by the end of 2024.
The annual energy production of the wind farm will be more than 400GWh, or roughly the annual electricity consumption of approximately 8000 households.
Once commissioned, OX2 will be responsible for the technical and commercial management of the project under a 15-year agreement, optimising the production and supervising its operations.
“We are honoured to realise the Niinimaki wind farm and want to thank Helen and Bank of Aland for great cooperation. The wind farm will make a significant contribution of clean energy and have a positive impact on the regional economy. Adding the Niinimaki wind park, OX2 has sold 1.2GW of renewable energy projects during 2021-2022,” said Paul Stormoen, CEO OX2.
Director of Corporate Acquisitions at Helen Jenny Soderman added: “With the acquisition of the Niinimaki wind farm, we will geographically disperse wind power production to Eastern Finland. We are particularly pleased with the cooperation with OX2, as well as the continuous good cooperation with our partner Bank of Aland’s Wind Power Fund.
“The Niinimaki acquisition supports the investment in renewable energy production in line with our strategy, and once the park has started operating, our annual wind power production will be approximately 2.5TWh.”
Bank of Aland Portfolio Manager Jimmy Forsman said: “Niinimaki is already our fund’s fifth investment during our first two years of operation. Together with Helen, we have invested this year in four wind farms that, once completed, will produce more than 1.5TWh of renewable electricity per year.
“Our fundraising has been very successful so far and we are very pleased to be able to invest our clients’ funds in a project developed and built by OX2. In this way, we can also continue our work in solving the electricity price crisis.”