Aquila Capital to buy OX2’s Ykspihlaja windfarm in Finland

8 March 2017 (Last Updated March 8th, 2017 18:30)

German investment service company Aquila Capital has signed a purchase agreement with Swedish wind turbine developer OX2 for the acquisition of the 14.4MW Ykspihlaja windfarm in Finland.

German investment service company Aquila Capital has signed a purchase agreement with Swedish wind turbine developer OX2 for the acquisition of the 14.4MW Ykspihlaja windfarm in Finland.

Located in Kokkola, approximately 100km north of Vaasa, the Ykspihlaja facility will feature four Nordex N131/3600 turbines with a total height of 200m.

The site has been chosen as it is one of the most favourable wind positions in Finland, with an average wind speed of nearly 7.7m per second at the hub height of the wind turbines.

Once in operation, Ykspihlaja windfarm is expected to generate renewable energy of approximately 55GWh every year, with a capacity factor of 43%. This is above average for such windpower projects.

OX2's wind managing director Paul Stormoen said: “We are pleased about our excellent cooperation with Aquila and that we are able to announce a third deal together within only a few months.”

"Once in operation, Ykspihlaja windfarm is expected to generate renewable energy of approximately 55GWh every year."

Under the terms of the purchase agreement, the facility will be handed to Aquila Capital at the beginning of next year and will be owned by the company.

Being built by OX2 as engineering, procurement, and construction (EPC) contract, the wind project will be thereafter managed by the company.

Aquila Capital's chief executive officer (CEO) and co-founder Roman Rosslenbroich said: “Due to the high demand for renewable energy infrastructure, the deal pipeline of attractive target investments is a crucial factor and we are happy about another successful acquisition in the Nordics and the long-standing collaboration with OX2.”

The Ykspihlaja wind project is estimated to be commissioned at the end of this year.