Aquila Capital has moved into the Finnish energy market with the acquisition of an onshore wind park for an undisclosed sum.
The investment firm said it is buying the Ykspihlaja project located close to the Finnish town of Kokkola. The wind farm has four Nordex N131 turbines with a capacity of 3.6MW each and the benefits from a twelve-year state-guaranteed feed-in tariff.
Aquila said Swedish developer OX2 will continue to be responsible for the ongoing technical and commercial management of the wind farm.
Roman Rosslenbroich, a co-founder and CEO of Aquila Capital, said: “The move into the Finnish wind energy market is a logical step for us and an important element in our expansion strategy in the field of renewable energies – particularly in northern Europe.
“Thanks to its natural features and stable political framework, the region is key to the success of the Europe-wide energy transition.”
Susanne Wermter, the head of investment management energy and infrastructure for Aquila Capital in EMEA, said: “Ykspihlaja will profit in full from the state-guaranteed feed-in tariff for a period of twelve years, thus ensuring long-term profitability. This sustainability is extremely important to our investors.”
Paul Stormoen, a managing director at OX2, said: “We are pleased that we have the opportunity to realise what is now the fourth joint project with Aquila Capital. Above all, we appreciate the reliability and long-term investment prospects associated with our partnership.”
