February 21 (Renewables Now) - German renewables investor and asset manager Luxcara GmbH said today it has bought the 100-MW Valikangas wind project in Finland from German renewables developer ABO Wind AG.
The particular wind park will be built by the seller at a site in the region of Northern Ostrobothnia. The electricity it produces upon completion will be sold to an off-taker on the basis of a power purchase agreement (PPA), Luxcara said in a statement.
The asset manager noted it has bought the asset for a portfolio for institutional investors. It anticipates the plant to be hooked to the grid in the summer of 2020.
Luxcara's existing portfolio of European solar and wind assets exceeds 1 GW of capacity.