- Press Releases
November 25 (Renewables Now) - KfW IPEX-Bank is extending funds to German renewables developer Wpd AG to support its 96.9-MW Nuolivaara wind farm project in Finland.
The German bank is financing the wind farm’s construction and operation, and is contributing all of the debt capital and ancillary facilities, the parties said in a joint press release on Thursday. The amount of funds was not disclosed.
Nuolivaara will be located north of the Arctic Circle near the town of Kemijarvi. Due to climate conditions at the location, the wind turbines will be equipped with an anti-icing system.
Germany’s Nordex SE (ETR:NDX1) has been selected as the turbine supplier, and will send 17 units of its Delta4000 series N163/5.7 machines for the project.
The Nuolivaara wind farm is scheduled to start operations in early 2023. Two unnamed Finnish companies will procure a large portion of the wind farm’s output under baseload off-take agreements. The remainder will be sold directly on the spot market, Wpd said.