Finnish state-backed developer Exilion Tuuli is developing wind and solar projects totalling 270MW in the country’s Simo and Li areas.
The company, which is owned by Elo, the State Pension Fund of Finland and Veritas, is developing a new 70MW solar power plant in Simo t be completed in 2025.
The investment amount will be over €40m.
The scale of the project is significant because, so far, there are no solar power plants in Finland with a panel output exceeding 10MW.
The output and production figures are also considerable compared to previous solar power projects in the Nordic countries, Exilion stated.
“Exilion has been exploring to increase renewable energy production also using solar power for some time. Combined with Exilion’s major investment in wind farms, this project promotes Finland’s carbon neutrality goals and energy independency”, says Tommi Riski, Investment Manager, Exilion.
Exilion already has 23 wind turbines plus a large-scale renewable energy storage system in the Simo and Ii region.
The company’s other investment is in wind power in Li, where it is building 17 wind turbines at two project sites.
The Isokangas wind farm will include five turbines and Palokangas 12 turbines.
Exilion has ordered the 5.9MW turbines from Nordex and signed a 30-year service and maintenance agreement with the company.
The height of the turbines is 159 metres and the diameter of the rotors 163 metres.
The project is part of EU’s NextGenerationEU financing.
The work to build the wind farms will start with road construction at the end of the year.
The turbines will be erected over summer 2024.
The production of the wind power plants will begin at the start of 2025.
The Ministry of Economic Affairs and Employment has granted the project €8.9m investment subsidy as part of the first energy investment decisions in accordance with Finland’s Recovery and Resilience Plan to promote clean energy solutions.