Aquila Capital and OX2 sign agreement for wind farm in Finland

09.03.2017
  Aquila Capital has signed a purchase agreement with OX2 for the 14,4 MW Ykspihlaja wind farm in Finland that includes four Nordex N131/3600 turbines. (Photo: Nordex)
Aquila Capital has signed a purchase agreement with OX2 for the 14,4 MW Ykspihlaja wind farm in Finland that includes four Nordex N131/3600 turbines. (Photo: Nordex)

Aquila Capital is expanding its portfolio in the Nordics with the acquisition of its first project in Finland, a wind farm with an installed capacity of 14.4 MW on the coast near Kokkola.

The Windpark Ykspihlaja includes four Nordex N131/3600 turbines and is in one of Finland’s most favourable locations with an average wind speed of 7.7 m/sec at the hub height of the turbines. Production has been estimated at approximately 55 GWh per year.

Ykspihlaja is the third project that Aquila Capital, a leading European manager of alternative investments, has acquired on a turnkey basis with OX2, one of the largest wind developers in Scandinavia. As a seller and general contractor, OX2 is responsible for completing the park by the beginning of 2018 and the ongoing technical on-site management. According to plan, the wind farm will be handed over to Aquila Capital at the beginning of 2018, which will then take over ownership.

The acquisition increases Aquila Capital’s track record in the wind sector to about 1,000 MW. With regards to the Nordics, Aquila Capital has implemented renewable energy projects with a total installed capacity of more than 800 MW since 2011.

OX2 is currently building five wind farms with a total of approximately 400 MW in the Nordic region, approximately 56 MW of which is in Finland.

Susanne Wermter, Head of Special Infrastructure Investments at Aquila Capital, said: “This transaction represents the realization of another project from our Scandinavian pipeline and our first in the popular Finnish wind market. The Ykspihlaja wind farm is one of the last projects to benefit from the expiring Finnish green energy support scheme, from which it will receive a state-guaranteed, fixed-market premium on the electricity price in the first 12 years of operation.”

Paul Stormoen, CEO for OX2 Wind, adds: “We are pleased with our excellent cooperation with Aquila Capital and that we are able to announce our third deal together in just a few months."

Aquila Capital / OX2 / Silke Funke

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