Octopus Renewables Infrastructure Trust has entered into a call option agreement for the acquisition of the Saunamaa and Suolakangas wind farms in Finland, which have a combined capacity of over 71MW.
Saunamaa and Suolakangas are in the final stages of commissioning.
The acquisition under the option agreement is expected to take place in late 2021.
Octopus Renewables Infrastructure Trust has paid a deposit of £45m, which is interest bearing and will be refundable should the acquisition not complete.
Octopus Renewables Infrastructure Trust chair Phil Austin said: “We are delighted to announce our first transaction in Finland with this option agreement over the Saunamaa and Suolakangas sites, which will add further geographic and technological diversification to our portfolio.”
Octopus Renewables investment director Chris Gaydon said: “We are really pleased to announce the Company’s plans to acquire these wind projects in Finland, especially due to their near-term completion, contributing two high quality, income generating assets to the portfolio.
“We look forward to updating the market on the progression of the option agreement in due course.”