Commerz Real’s real assets impact investment fund has added a 45.6MW asset to its Finnish wind farm portfolio.
The Klimavest fund has acquired the Lumivaara onshore wind farm, which has eight turbines from Energiequelle.
Lumivaara is located in the municipality of Hyrynsalmi, part of the Kainuu region, about 560km north of Helsinki.
Commerz Real said turbine manufacturer Nordex is responsible for ongoing full maintenance, while Energiequelle is responsible for the technical and commercial management.
This acquisition marks Klimavest’s fourth wind farm in Finland, boosting the fund’s portfolio’s total capacity in the country to over 170MW. The fund’s investment focus also includes Spain, Germany, France and Sweden.
Yves-Maurice Radwan, head of green deal infrastructure at Commerz Real, said: “Finland offers excellent conditions for wind energy and the legal framework for the construction and operation of subsidy-free wind farms is also very favourable.
“We have therefore seized the opportunity to secure another profitable asset for our investors in cooperation with Energiequelle.”
Financial details were not disclosed.
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