Helen, CPC Finland break ground on 86-MW wind project

Finnish energy group Helen and compatriot CPC Finland have kicked off the construction of the 86-MW Lakiakangas 3 wind farm in Finland.

The project will be realised through a joint venture (JV) between Helen and the subsidiary of German developer CPC Germania at a total cost of almost EUR 100 million (USD 118.3m). The duo will also set up an electricity transmission company, which will be responsible for transmitting the output of the wind farm to the national grid, Helen said earlier this week. The latter will hold 60% of the two companies' stock, while CPC Finland will have a 40% shareholding.

To be installed in Isojoki, the Southern Ostrobothnia region of Finland, the power plant will be the third phase of the Lakiakangas complex of two already operational wind parks. Lakiakangas 3 will be equipped with 20 V150 turbines by Denmark’s Vestas Wind Systems A/S (CPH:VWS), the first ones of which are planned to be installed next spring, while power production from the entire installation will be launched towards the end of 2021.

Helen will purchase output of the plant and will then offer it to its customers from 2022.

OP Corporate Bank has provided non-recourse financing for the project.

Lakiakangas 1 and Lakiakangas 2 have been generating power since 2017 and 2019, respectively. According to the statement, Lakiakangas 3 is planned to be expanded at a later point with three additional turbines.

(EUR 1.0 = USD 1.183)

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