Ilmatar closes buy of 230 MW of Finnish wind projects

Finnish renewable energy plants developer and operator Ilmatar Energy Ltd has concluded the acquisition of two onshore wind projects at home with a combined capacity of 230 MW.

The transaction concerns the 200-MW, 30-turbine Pahkakoski project in Li municipality and the 30-MW, five-turbine Jakalakangas development in Karvia. The smaller project was actually transferred to Ilmatar in the second quarter of 2022 and this latest announcement marks the completion of the second portion of the deal.

Ilmatar has bought the projects from German company Alterric Internationale Beteiligungs GmbH, which is now focusing on the Central European market. The financial terms of the deal were not given.

When fully completed, the two wind farms will be able to cater to nearly 1% of Finland’s annual electricity consumption, according to Erkka Saario, Vice President, Projects, at Ilmatar.

Overall, the company is currently building 350 MW of wind farms in Finland, including the Jakalakangas facility. Pahkakoski, on the other hand, is fully permitted but awaits an investment decision.

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