OX2 has signed an €650m agreement to construct and divest a 455MW onshore wind farm in Finland.
The Swedish company acquired the project rights in February this year and has agreed to develop the wind farm under a tailored fixed price agreement.
The buyer is a consortium of Finnish energy companies, Kymppivoima (65%), Oulun Energia (25%) and Kuopion Energia (10%).
The project, located in Lestijärvi, will comprise 69 6MW turbines and will have an estimated yearly output of about 1.3 TWh.
Once operational it will be the largest ever onshore wind farm in Finland and among the largest onshore wind developments in Europe during 2021.
OX2 will also build the grid infrastructure for the site, which includes a substation and a 58km 400kV transmission line, and it will be responsible for technical and commercial management of the project under a 15-year agreement.
Construction is set to start immediately in sight of an estimated 2025 completion date and will be built without any government subsidies, the company said.
Subcontractor Eltel Networks will construct the 400kV transmission line and 24 km of 110kV transmission line and Hitachi Energy will deliver the transformers.
Meanwhile Keski-Suomen Betonirakenne will be responsible for the balance of plant and substation works.
OX2 chief operating officer Paul Stormoen said: “I am very happy and proud of the efforts that have been put into this milestone project.
“The project demonstrates the capacity of onshore wind farms being a significant contributor of new renewable electricity to the production mix in Finland.”