Prime Capital closes acquisition of 23.1 MW wind project in Finland

Prime Capital has announced that it has closed its third transaction in onshore wind in Finland. The project is located in the municipalities of Posio and Kuusamo and consists of 7 Vestas V126 turbines with a capacity of 3.3 MW. The location benefits from an attractive average wind speed of 7.8 m/s.

The project will generate ca. 80 GWh of renewable electricity per annum, equivalent to the annual consumption of ca. 10,000 Finnish households. Following the acquisition, the turbines’ capacity will be increased to 3.45 MW.

Prime Capital acquired the project on a full-equity basis and will be arranging debt financing. The company has not disclosed the seller; however, in 2015 Vestas was contracted to supply the wind farm by E-Group, a Slovakian company.

The project had been operating for 24 months and receives the Finnish feed-in-tariff (FiT) for a remaining period of 10 years, offering long-term predictability of cash flows.