Aquila Capital Growths With Acquisition of Wind Project in Finland

Aquila Capital Growths With Acquisition of Wind Project in Finland
09.03.2017 12:45 pm

Aquila Capital Growths With Acquisition of Wind Project in Finland

M&A Deals

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 favorable locations with an average wind speed of 7.7 meters/second[1]. This will generate a capacity factor of 43%, which is above average for wind projects.

Ykspihlaja is the third project that Aquila Capital 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.

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." 

Roman Rosslenbroich, CEO and Co-Founder of Aquila Capital, said: “Due to the high demand for renewable energy infrastructure, a deal pipeline of attractive target investments is a decisive success factor for investment managers. The long-standing cooperation with leading market participants such as OX2 is therefore of great importance for the sustainable positioning of Aquila Capital in the Nordics.”   

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.

Related News

Cornerstone Completes Acquisition of FXPress Payment Services Following Consent of the FCA

Cornerstone Brands is pleased to announce the completion of its acquisition of FXPress Payment Services Ltd. (“FXPress”) following the consent... Read more »

Pure Storage to Acquire the Leading Kubernetes Data Services Platform Portworx

Pure Storage (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, today announced it has entered into a definitive agreement... Read more »

Ohpen acquires Europe’s #1 STP loan and mortgage software company Davinci

Ohpen, the first fintech platform to bring a bank to the cloud, today announces its acquisition of cross-border loan and mortgages Software as a Service (SaaS... Read more »

Cornerstone to Acquire FXPress Payment Services

Cornerstone Brands is pleased to announce that shareholders have approved the intended acquisition of FXPress Payments Services Ltd, a... Read more »

ConsenSys Acquires Quorum® Platform from J.P. Morgan

ConsenSys, an industry-leading blockchain software company, today announced the acquisition... Read more »

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