Ilmatar has secured a long-term PPA which will allow it to construct the 384MW-plus Korpilevonmäki wind farm in the Säkylä area of south-west Finland.
The project will generate a nominal capacity of 38.4MW, and production is set to commence in 2026.
Ilmatar has signed a 10-year PPA with snacks firm Mondelēz International for the site, which consists of six turbines to be delivered, installed and commissioned by Vestas.
The contract also includes a full scope service availability agreement for 30 years with possibility to extend up to 35 years.
Ilmatar acquired the project rights for Korpilevonmäki in 2021.
According to company’s strategy, the wind farm remains in Ilmatar’s ownership throughout its lifecycle.
The construction work of the site will start immediately.
Once completed, the project will have a production capacity of approximately 125GWh annually which equals to an electricity consumption of approximately 50,000 apartments or 6250 electrically heated detached houses.
This is one of the few decisions to start a new wind farm construction project so far this year in Finland, Ilmatar said.
Chief executive of Ilmatar Energy Juha-Pekka Weckström said: “We are growing and we will continue to accelerate investments to renewable energy in Finland and Sweden according to our strategy.
“Korpilevonmäki project is an example of this.
“The investment environment has not been the easiest, but we are not slowing down our investments.
“We have been successful in financing discussions and investors see the growing need for renewable energy.”