German renewables developer VSB Group announced on Monday that it is selling its two wind farm projects totalling 190 MW in Finland.
The city of Helsinki-owned utility Helen Ltd will acquire the assets alongside Alandsbanken Wind Power Special Investment Fund for an undisclosed amount.
On the table are the 40-MW Juurakko and the 150-MW Karahka projects, developed by VSB Group's Finnish affiliate VSB Uusiutuva Energia Suomi Oy. The two projects represent the German promoter’s first wind power portfolio in Finland.
Juurakko is currently under construction. Its seven turbines are scheduled to start spinning by the end of 2022. Construction of the Karahka wind farm, which will be equipped with 25 turbines, is due to start in autumn this year and wrap up by the end of 2024.
“The acquisition of the Juurakko and Karahka wind farms together with our partner, Alandsbanken Wind Power Fund, is part of the continuum of our good cooperation and our strategy to promote wind power production,” commented Antti Sallila, Helen’s Senior Vice President, Strategy, Mergers and Acquisitions.
“As a result of these latest acquisitions, wind power is expected to account for one-third of our electricity production in 2025 when more than 90 per cent of our total production would be emission-free,” Sallila added.
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