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OX2 acquires wind project in Finland

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Energy Global,

OX2, a leading Nordic developer in onshore wind power, and YIT, the largest construction company in Finland, have agreed on the purchase of one of Finland’s largest wind power projects, located in Lestijärvi municipality in Central Ostrobothnia. In the now confirmed transaction, OX2 acquires the project rights for 72 wind turbines from YIT.

The total capacity of the Lestijärvi wind farm will be approximately 400 MW and the maximum total height of the turbines will be 240 m. Construction of the wind farm is due to start within a year. The wind farm will be constructed without government subsidies. Once commissioned, the annual energy production of Lestijärvi wind farm will be approximately 1.4 TWh, which corresponds to approximately 2% of the total electricity production in Finland.

“It is of paramount importance to the municipality that the project has passed on to competent hands and its realisation is confirmed. The wind farm generates approximately €2.5 million in real estate tax for the municipality every year – approximately €3500 per citizen. It will secure funding for the new school and provide us with capital for development and maintain well-being in our municipality,” says Esko Ahonen, Head of Lestijärvi municipality.

The plans and building permits for the Lestijärvi project are legally in force. In addition to the 72 wind turbines, the project includes the construction of a new electricity substation and 55 km of 400 kV power line for electricity transmission.

At the moment, the company has over 340 MW of wind power under construction in Finland.



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