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July 3, 2020

Neoen commissions Hedet onshore wind farm in Finland

French renewable energy producer Neoen has announced the commissioning of its Hedet wind farm in Närpes, Finland.

French renewable energy producer Neoen has announced the commissioning of its Hedet wind farm in Närpes, Finland.

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Neoen holds an 80% interest in the 81MW wind facility, which uses 18 Nordex N149 turbines. Finnish wind farm developer and operator Prokon Finland holds the remaining 20% stake.

Energy generated by the Hedet wind farm will supply the country’s grid. This in turn will supply Google ’s Hamina data centre, which has a ten-year power purchase agreement with Neoen .

Regional director Christophe Desplats-Redier said: “Hedet is a landmark project for Neoen , and the start of its commercial operations represents a major milestone for our business in Finland.

“We would like to express our gratitude to Google , the Närpes municipal authorities, our partner Prokon , our subcontractors and all the local stakeholders—the population of Overmark and Finnish operator EPV— which helped us bring this project through to its fruition.”

German and Swedish commercial banks KfW Ipex and Seb financed the Hedet facility with €66.5m in senior debt. The wind farm was built with an investment of €85.4m excluding borrowing costs.

Neoen chairman and CEO Xavier Barbaro said: “We are very proud to commission the Hedet wind farm, our first operating asset in Finland.

“As a long-term investor and operator, Neoen is contributing to the achievement of the country’s goal of being carbon-neutral by 2035. We are actively pursuing the development of other projects in the country with the same high-quality standards and in close co-operation with local communities.”

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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