Insurance company Allianz is to acquire from OX2 the 21MW Jouttikallio wind farm in Lapua in Finland.
The wind farm, which will be built about 80km from Vaasa, will consist of six Vestas V126 3.45MW units and is expected to be commissioned by the end of the year.
No details of the purchase price have been made available. The transaction is subject to certain closing conditions and is expected to close by end of January 2016.
The deal is Allianz’s first wind power investment in Finland.
The project was originally developed by the Finnish wind power company Innopower and has been granted all the permits necessary for construction.
In May last year, OX2 took over responsibility for continued development, technical design, procurement, financing and construction of the project.
The agreement signed with Allianz means that OX2 can now start the construction of the project, at the same time as Innopower’s involvement comes to an end.
OX2 will continue to be responsible for the commercial and technical management of the wind farm.
Allianz Capital Partners head of renewables David Jones said: “Entering the Finnish market is another important milestone this year for us.
“Finland is a promising European wind market and it will help us to increase and further diversify our renewables portfolio.”
Image: Vestas V126 turbines (Vestas)
