Aquila Capital has acquired two operational wind farms in northern Finland with a combined operating capacity of 53 megawatts.
A transaction price was not disclosed.
Earlier this month, we reported that Aquila was looking to purchase Finnish wind farm Aalto Wind 2, in addition to the li Olhava wind farm and its extension. While the name of the purchased wind farm was not disclosed by Aquila, details about li Olhava appear to match up to those of the sold asset.
The wind farms, which have a capacity of 34.5 megawatts and 18.5 megawatts, respectively, were purchased from builder TuuliWatti, a joint venture of industrial wind power owners St1 and S-power.
TuuliWatti intends to build more wind power projects in the Nordics, the company’s director Tuomas Candelin-Palmqvist disclosed.
Operational since 2012 and 2015, respectively, the farms are fitted with solid Vestas turbines V112 and V126. They are each expected to produce 99 GWh and 47 GWh.
“The Finnish wind energy market — just as the Nordics as an investment destination in general — continues to be very interesting in our view,” said Roman Rosslenbroich, co-founder and CEO of Aquila Capital in a statement. “For institutional investors, Finland and the Nordics are appealing due to the region’s political and economic stability, the favorable wind conditions, and the opportunity to invest across different regions and asset classes.”
The acquisition brings Aquila’s Nordic wind energy assets under management to a combined capacity of close to 1.5 gigawatts. The investor manages $9.3 billion in assets for clients worldwide.