Enefit Green has agreed to divest its Tolpanvaara wind farm in Finland to TD Greystone Infrastructure Fund, as part of a strategy to concentrate on the Polish and Baltic markets, for nearly €83m ($96.39m).

On behalf of TD Greystone Infrastructure Fund, Rabbalshede Kraft will assume the management of the onshore wind farm.

The facility, located about 30km from Pudasjärvi on Metsähallitus-manged land, has an installed capacity of 76MW and a 72MW grid export capacity.

The project consists of 13 Nordex turbines, which together are expected to produce approximately 250GWh of renewable electricity each year.

In December 2021, Enefit Green reached its final investment decision, and the farm was completed last year.

Enefit Green management board chair Juhan Aguraiuja said: “Tolpanvaara is Enefit Green’s only wind farm in Finland. As we do not plan to expand in the Finnish market, we have decided to divest the asset.”

Advisory services for the transaction included Arctic Securities, which acted as the sole financial advisor to Enefit Green, and Borenius, which provided legal counsel.

On the buyer’s side, KPMG Canada, KPMG Luxemburg, and Loyens & Loeff offered advisory support to TD Greystone Infrastructure Fund while KPMG Finland, MAQS Advokatbyrå, and Lieke Attorneys served as Rabbalshede Kraft’s legal advisors.

Rabbalshede Kraft CEO Peter Wesslau said: “This acquisition complements our Nordic portfolio and strengthens our long-term presence in Finland.

“We look forward to further developing the projects in close dialogue with local communities, partners, and landowners.”

TD Greystone Infrastructure Fund, part of TD Asset Management, is a long-term infrastructure investor with a presence in renewable energy across Northern Europe.

Rabbalshede Kraft, meanwhile, established in 2005 and based in Sweden, specialises in the development, construction, and operation of renewable energy projects.