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Luxcara buys 60 MW of Finnish projects from ABO Wind

Wind park. Author: Santi VillamarĂ­n. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

September 13 (Renewables Now) - German renewables investor and asset manager Luxcara GmbH announced this week it has acquired two wind projects in Finland with a combined capacity of 60 MW.

Luxcara bought the Sievi and Pihtipudas assets from ABO Wind for a portfolio for institutional investors. The value of the transaction was not revealed.

The two wind projects are located in the Northern Ostrobothnia region and are seen to start commercial operations in the second half of 2021. They will be selling their output to an unnamed off-taker under a power purchase agreement (PPA). The electricity generated by the plants will be enough to cover the annual consumption of over 50,000 homes.

Luxcara noted that it acquired another project from ABO Wind earlier this year -- the 100-MW Valikangas, also located in Northern Ostrobothnia.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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