View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 4, 2019

OX2 to purchase Metsälamminkangas wind project from LähiTuuli

Swedish wind power company OX2 has signed an agreement with LähiTuuli to purchase the Metsälamminkangas project, one of the largest wind power projects in Finland.

Swedish wind power company OX2 has signed an agreement with LähiTuuli to purchase the Metsälamminkangas project, one of the largest wind power projects in Finland. The acquisition will enable OX2 to build a 24-turbine wind farm in North Ostrobothnia, Finland.

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.

Based in Vaala, the Metsälamminkangas project will have a total capacity of approximately 150MW and its annual production will be equivalent to the electricity consumption of around 80,000 homes.

OX2 regional manager for Finland and the Baltics Teemu Loikkanen said: “Metsälamminkangas is one of the largest wind power projects in Finland. It will strengthen our position as a leading wind power player in the Nordic countries.

“We’ve already begun tenders with suppliers and started negotiations on a power purchase agreement and funding. Our aim is to be able to start construction next spring, meaning the turbines could be installed in summer 2021.”

Planning permission has already been granted for the project as part of the area’s general plan. A 32km expansion of the 110kV section of the national grid, Fingrid, will connect the wind farm to the grid via the Vuolijoki substation.

LähiTuuli CEO Miika Pilli said: “Metsälamminkangas has been an extremely important project for us right from the start, and it’s great to see it now moving to the next phase.

“We think it’s important that our farm continues to develop all the way to electricity generation, and this has been a crucial consideration for us when choosing a new owner.”

OX2 develops, builds and manages renewable power generation and has generated over 2GW of wind power in the Nordic region. It also has operations in Poland, Lithuania, France and Germany.

Finnish firm LähiTuuli develops and owns wind power sources nationwide. It is a sister company of TuuliSaimaa, which provides specialist services in the renewable energy sector.

Related Companies

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.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology