BayWa’s renewable energy arm has announced its entry to the Finnish wind market by acquiring a 50% stake in a joint venture with investment company Exilion.
Both companies will develop and invest into the Karhakkamaa wind farm project, which will consist of 48 wind turbines with an installed capacity of about 350MW.The project will be developed in the Karhakkamaa area in the north of Finland, about 32 kilometres north of the centre of the Tornio municipality and approximately five kilometres from the Swedish border.
BayWa r.e. Nordic chief executive Maria Röske said: “The acquisition of the joint venture and the co-development of a sizable wind farm in Finland aligns with our aim to enter the Finnish wind market, which we consider as a strategic market for us.
“We are happy and proud to co-develop our first project in Finland together with Exilion, a well-known and very reputable player in the Finnish wind market.” Exilion managing director Ari Talja said: “BayWa r.e. has extensive experience in the development and construction of large wind power projects around the world. Through their operations in Sweden, they also have a good understanding of the Nordic environment.
“We plan to take the Karhakkamaa project forward in close cooperation, so that we can meet Finland’s increasing needs for energy self-sufficiency and take a big step forward towards our ambitious climate goals.”