OX2 and Aquila Capital sign agreement for wind farm in Finland

Aquila Capital, an European manager of alternative investments, has signed a purchase agreement with OX2 for the 14.4 MW Ykspihlaja wind farm in Finland.

Ykspihlaja wind farm, with four wind turbines, will be built in Kokkola, some 100 kilometres north of Vaasa. This is one of Finland’s most favourable wind positions with an average wind speed of approximately 7.7 m/sec at the hub height of the turbines. Production has been estimated at approximately 55 GWh per year. According to plan, the wind farm will be handed over to Aquila Capital at the beginning of 2018, which will then take over ownership.

OX2 is building the Ykspihlaja wind farm as an EPC contract and will thereafter also manage the farm. OX2 is currently building five wind farms with a total of approximately 400 MW in the Nordic region, approximately 56 MW of which is in Finland.

Ykspihlaja is the third agreement in a short time between the parties after the acquisition of Lehtirova and Högkölen wind parks in Sweden in .

Roman Rosslenbroich, CEO and Co-Founder of Aquila Capital, said:

“Due to the high demand for renewable energy infrastructure, the deal pipeline of attractive target investments is a crucial factor and we are happy about another successful acquisition in the Nordics and the long-standing collaboration with OX2.”

Paul Stormoen, Managing Director for OX2 Wind, said:

“We are pleased about our excellent cooperation with Aquila and that we are able to announce a third deal together within only a few months.”