Investment manager Downing LLP has completed the acquisition and commissioning of a 30MW onshore wind farm in Finland.
Bagnall Energy, the renewable energy and infrastructure arm of Downing Estate Planning Service, entered into an agreement earlier this year to acquire the wind farm at commencement of operations.
The Konttisuo wind farm is located near Soini in the region of Southern Ostrobothnia. It has been built by Energiequelle, which will also provide long-term technical and commercial management services.
The acquisition is Downing’s first investment in Finland and Bagnall’s first wind investment in Finland, complementing its hydropower assets in the region.
Turbines for the wind farm were supplied by Nordex which is contracted to provide long-term maintenance services to the project for 25 years.
“The onshore wind sector in Finland is expanding rapidly and we are delighted to be able to contribute to Finland’s decarbonisation and energy security goals through this transaction,” said Head of Energy & Infrastructure at Downing Tom Williams.
“Energiequelle have an excellent track record of development and management of wind projects across Europe, and we look forward to a successful partnership with them.
“As a certified B Corp, we are committed to responsible investing and delivering on the strategy. We look forward to adding further attractive projects to our portfolio in due course.”
Nils Borstelmann, Country Manager, Energiequelle Finland, commented: “We are very pleased with the successful commissioning of the wind farm and our partnership with Downing. For both of us, decentralised and renewable energy production is at the core of our operational goals.
“Working with the authorities, the municipality of Soini and the local community has been really smooth and we look forward to celebrating the opening of the wind farm at the end of October together with them.”