Finnish energy company Helen with local partner Alandsbanken’s Wind Power Special Investment Fund have acquired the 165MW Kalistanneva wind farm from Valorem for an undisclosed price.
Construction of the 30-turbine wind farm, near Kurikka in Ostrobothnia, will begin in April and the project is expected to be fully operational in January 2025.
Helen is the majority shareholder in the wind farm, with Alandsbanken’s fund holding a minority interest.
Kalistanneva is the fund’s second investment.
Helen M&A and strategy director Antti Sallila said: “Acquiring the wind farm together with our partner Alandsbanken Wind Power Special Investment Fund is a significant step for Helen on our journey towards carbon neutrality and a continuation of the strategy to promote wind power production.
“Once Kalistanneva has started its operations, our annual wind power production exceeds 1.5 TWh.”
“Investing in a large-scale wind farm together with Helen creates an excellent opportunity for our investors to benefit from the benefits of a growing Finnish wind power market,” said Juha Kankanen, investment director at Alandsbanken Fund Management Company.
In December 2021 Helen announced a project with Fortum to build two wind farms with a total of 56 turbines in Narpes and Kristiinankaupunki.