Aquila Capital Enters Finnish Wind Energy Market with 14.4 MW Project

 Aquila Capital Enters Finnish Wind Energy Market with 14.4 MW Project
19.06.2018 10:24 am

Aquila Capital Enters Finnish Wind Energy Market with 14.4 MW Project

Investment Management

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.

Related News

Abacus Group Acquires Proactive Technologies

Abacus Group, a global provider of IT services for alternative investment firms, today announced it has completed... Read more »

Cognizant Marks Official Opening of Boulder Tech Innovation Hub

... Read more »

Smith & Williamson adopts Avaloq’s SaaS solution

Smith & Williamson, the UK-based financial and professional services firm, has further enhanced its relationship with international fintech leader Avaloq by adopting its... Read more »

STYLE ANALYTICS FURTHER ENHANCES PEER INSIGHTS PRODUCT WITH ENVESTMENT DATA

Style Analytics, the provider of factor-based analysis software for investment professionals, announces that it is enhancing its Peer Insights product with data from... Read more »

M1 Finance unveils checking account

M1 Finance, the free, automated banking and investing platform, today announced M1 Spend, the checking account and debit card that enables customers to fully experience the... Read more »

WealthTech firm WeInvest taps North Asia

WeInvest, a Singapore-based WealthTech firm, announced today its entry into North Asia with the appointment of Thomas Tse as Head of Sales.

Thomas will lead WeInvest’s... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App