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OX2 and Aquila Capital sign agreement for wind farm in Finland

March 8, 2017, 10:00
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Aquila Capital, a leading European manager of alternative investments, has signed a purchase agreement with OX2 for the 14,4 MW Ykspihlaja wind farm. This is the third agreement in a short time between the parties.

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.

“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”, says Roman Rosslenbroich, CEO and Co-Founder of Aquila Capital.

OX2 is building the Ykspihlaja wind farm as an EPC contract and will thereafter also manage the farm.

“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," says Paul Stormoen, Managing Director for OX2 Wind.  

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 wind farm fact sheet:
- 4 Nordex wind turbines with a total height of 200 m
- Average wind speed is approximately 7,7 m/sec at the turbines’ hub height
- Capacity Factor above 43 %
- Expected average production of approximately 55 GWh per year
- Estimated commissioning at the end of 2017
- The major sub-contractors are: Nordex (turbine supplier), KSBR (works), KENET (grid connection).