Swedish renewables developer OX2 AB (STO:OX2) said on Monday that it has sold the 145-MW Niinimaki wind farm project in Finland to Finnish energy utility Helen and the Bank of Aland’s Wind Power Fund.
Construction of the project is to commence immediately, with the commissioning expected by the end of 2024. Once in operation, Niinimaki’s 22 wind turbines will be capable of producing over 400 GWh per year, OX2 said.
The Swedish firm will handle the technical and commercial management of the wind farm under a 15-year agreement.
Niinimaki is the latest of 1,200 MW of renewable energy projects that OX2 sold during 2021-2022, according to CEO Paul Stormoen.
For the Bank of Aland, it is its wind power fund’s fifth investment during its first two years of operation. One of the projects that the fund acquired in Finland alongside Helen is the 40-MW Juurakko wind farm, which recently started generating electricity.
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