Ilmatar has agreed to sell a wind farm in southwest Finland to the UB Renewable Energy Fund, part of asset management group United Bankers.
The Fund will initially acquire a 40% stake in the Korpilevonmäki wind farm, followed by the acquisition of the remaining 60% stake upon the fulfilment of certain conditions.
Located in Säkylä, the wind farm consists of six turbine generators and has a total capacity of 38.4MW.
Ilmatar chief executive Juha-Pekka Weckström said: “United Bankers is a new strategic partner for us.
“Ilmatar will continue to operate the wind farm, even though ownership will transfer to the UB Renewable Energy Fund.
“Their involvement in the project strengthens our partnership network and creates opportunities to expand cooperation in future renewable energy projects.”
UB Renewable Energy sees the Korpilevonmäki project as an important part of developing its renewable energy portfolio.
“The acquisition of the Korpilevonmäki wind farm is a significant step for the UB Renewable Energy Fund,” said portfolio manager Tapio Nuotio.
“The decision to acquire the wind farm was influenced by Ilmatar’s ability to develop and build high-quality projects, as well as their commitment to operating the wind farm.”
Ilmatar acquired the project rights for the Korpilevonmäki wind farm in 2021.
The project was initiated by local landowners, and Ilmatar was responsible for its final development phase.
Ilmatar has signed a 10-year power purchase agreement (PPA) with Mondelēz International for the renewable electricity produced at Korpilevonmäki.
Commercial electricity production at the site began in early March 2025, months ahead of schedule.
The wind farm is estimated to produce a total of 125 gigawatt-hours (GWh) of renewable energy annually, which corresponds to the electricity consumption of approximately 50,000 apartment buildings or over 6,200 detached houses.