Sweden-based renewable energy developer Eolus has reached a cooperation agreement with Finsilva, a Finnish landowner, to develop a wind power portfolio with a potential of more than 600MW in Finland.
Eolus will develop a total of five wind farms, to be located in the central region of the country.
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Finsilva will lease land to the company for the development of the projects and commissioning is set to begin from 2027.
The wind farms are in the early phases of development and are expected to proceed at a rapid pace.
The central Finland location will make it easier to connect the projects to the national grid.
Eolus CEO Per Witalisson stated: “We are delighted to enter into this partnership with Finsilva, one of Finland’s largest landowners. Our resources and competencies complement each other, and we are very much looking forward to start developing the projects.
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By GlobalData“We have a strong and growing local organisation in Finland, with the capabilities needed for taking the projects through development, permissions and construction.”
Finsilva CEO Juha Hakkarainen stated: “Finsilva’s strategy is to generate economic, social and ecological well-being from nature. Creating facilities for renewable energy, such as wind power, is an important part of that.
“Finsilva will contribute land infrastructure to the projects in a revenue-sharing context. We want to be at the forefront in the responsible utilisation of natural capital and that is why we are looking for competent and skilled partners like Eolus.”
In April 2023, the Gothenburg Port Authority took a 5% stake in the project company that owns Eolus’ Västvind project, a 1GW offshore wind farm. The remaining 95% stake is held by Eolus.
The wind farm is expected to become operational in 2029.
With the potential to generate 4–4.5 terawatt-hours of clean energy annually, the Västvind offshore wind project will be able to power the entire city of Gothenburg.
