By acquiring a 50% stake in a joint venture with investment firm Exilion, BayWa’s renewable energy division has announced its debut into the Finnish wind industry.
The Karhakkamaa wind farm project, which will include 48 wind turbines and an installed capacity of around 350MW, will be developed and funded by both businesses.
The project will be built in the Karhakkamaa region of northern Finland, around five kilometers from the Swedish border and 32 kilometers north of the municipality of Tornio’s administrative center.
Maria Röske, BayWa r.e. Nordic chief executive, said “The acquisition of the joint venture and the co-development of a sizable wind farm in Finland aligns with our aim to enter the Finnish wind market, which we consider as a strategic market for us.”
“We are happy and proud to co-develop our first project in Finland together with Exilion, a well-known and very reputable player in the Finnish wind market.”
Ari Talja, Exilion managing director, said “BayWa r.e. has extensive experience in the development and construction of large wind power projects around the world. Through their operations in Sweden, they also have a good understanding of the Nordic environment.”
“We plan to take the Karhakkamaa project forward in close cooperation, so that we can meet Finland’s increasing needs for energy self-sufficiency and take a big step forward towards our ambitious climate goals.”
