The investment company Aquila Capital – a specialist in alternative investments – is acquiring the “Ykspihlaja” project, an onshore wind park close to the Finnish town of Kokkola. The wind farm has four Nordex N131 turbines with a capacity of 3.6 megawatts (MW) each. The location has average wind speeds of 7.3 m/sec at the hub height of the turbines, thus allowing for a capacity factor of 41 percent. This is the first wind energy investment by Aquila Capital in Finland. The project supplements the company’s extensive existing wind energy portfolio in Scandinavia.
“The move in to 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,” says Roman Rosslenbroich, co-founder and CEO of Aquila Capital. The transaction follows just a few months after the acquisition of three Swedish wind energy projects with a total capacity of more than 580 MW, including one of the largest onshore wind projects in Europe.
Project benefits from twelve-year state-guaranteed feed-in tariff
The plant in Kokkola was completed in March 2018 and is already connected to the Finnish electricity grid. “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,” explains Susanne Wermter, Head of Investment Management Energy & Infrastructure EMEA at Aquila Capital.
The developer OX2 will continue to be responsible for the ongoing technical and commercial management of the wind farm. “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,” says Paul Stormoen, the managing director of the Swedish developer OX2.