German renewables developer Ib Vogt has sold a 206MW solar project to Finnish energy company Helen.
The solar farm is located in Kalanti, Uusikaupunki, in south-west Finland and is ready to be built.
As part of the offered turnkey solution, Ib Vogt will provide full engineering, procurement and construction, O&M and asset management services.
The project will enter construction in the second quarter of 2023 with commercial operation expected in late 2024.
The solar farm will feature more than 380,000 high-capacity bifacial solar modules built on a fixed-tilt substructure for optimal performance.
“Finland and all Nordic countries are a growing market for renewable energy, including solar, and we are excited to execute our first project there and working on many more to come,” said Anton Milner, CEO of Ib Vogt.
He added: “We are delighted to work with Helen to advance their environmental objectives and support the efforts in diversifying power production for their customers.
“Many thanks to the people at Helen and all involved parties, who put a tremendous amount of effort into bringing this acquisition over the finish line with a very ambitious timeline to advance the transition toward clean energy production.”
Helen’s M&A Director Jenny Söderman said: “The solar power plant located in Kalanti, Uusikaupunki, is our first acquisition of a ready-to-build solar project and one of the largest in Finland.
“Increasing the amount of electricity produced by solar power also supports our goal to be carbon neutral by 2030 and the transition towards a decentralised energy system, where energy is produced from different sources.”
Newsec Infra provided financial advice and Hannes Snellman provided legal advice.
Ib Vogt has been active in the Finnish market since 2020.