ABO Wind has reached financial close on its 87MW Pajuperänkangas onshore wind farm in Finland’s Northern Ostrobothnia province.
The developer has raised a debt package from German bank NORD/LB to build and operate the wind farm, which is located close to the Haapajarvi municipality and will comprise 14 Vestas turbines.
The project, which has a 10-year PPA with Statkraft, has already started construction and is due to complete commissioning by November 2023.
Karolin Pampel, Head of Project Finance & Sales Finland at ABO Wind, said: “This is our largest international project that we have financed with NORD/LB. I believe we have built a solid foundation for further corporation and we hope this project is only the beginning of a long-term partnership.”
Heiko Ludwig, Global Head Structured Finance & General Manager London Branch, said: “Financing sustainable projects of this kind is a matter of great importance for NORD/LB. We have supported our client ABO Wind AG over the last 10 years, in their efforts to expand their activities in the European market. projects.
“We had a fantastic cooperation with a highly competent ABO team, and this allowed us to create a tailormade and innovative financing solution.”