Valorem orders Nordex turbines for 313.5 MW of Finnish wind projects

Nordex SE (ETR:NDX1) said today it has landed an order from French project developer Valorem to supply turbines for two wind projects in western Finland of a combined 313.5 MW.

The German wind turbine maker will deliver 30 N163/5.X turbines of the Delta4000 series for the Kalistanneva wind farm and 27 turbines of the same type for the Matkussaari wind farm. The two parks are located in the Ostrobothnia region and are part of the Viiatti wind complex.

Nordex noted that the orders include a premium plus service contract for thirty-five years.

The delivery and installation of the turbines will take place in 2024. The machines will be built on tubular steel towers with a hub height of 148 metres (161.9 yards). Once up and running in early 2025, the two wind farms are expected to generate about 1 TWh of green electricity which corresponds to some 1.2% of Finland’s annual electricity consumption.

The 165-MW Kalistanneva wind project was sold by Valorem to a consortium of Finnish energy company Helen Ltd and a wind power fund owned by domestic lender Bank of Aland while the 148.5-MW Matkussaari park will be built and operated by Valorem. In February, the French developer raised EUR 135 million (USD 148.8m) in fully merchant debt financing from infrastructure investment platform AIP Management and secured EUR 10 million in VAT funding from OP Bank for the Matkussaari project.

Valorem said in February that it has more than 500 MW of projects under development in Finland.

(EUR 1 = USD 1.102)

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