Luxcara acquires 100-MW wind project in Finland

Wind turbine. Image by: ABO Wind (www.abo-wind.com).

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.

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