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OX2 acquires the largest wind power project in Finland from YIT

February 12, 2021, 07:40
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OX2, a leading Nordic developer in onshore wind power, and YIT, the largest construction company in Finland, have agreed on the purchase of Finland’s largest wind power project, 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 metres. 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 two per cent of the total electricity production in Finland.

"The acquisition of the project rights for Finland's largest wind farm is a significant and welcome project for us. The greatest benefits from renewable energy projects are achieved when they are implemented on a large scale. In addition to the wind farm, we will build a 1,300 MW electricity transmission line, and with the nearby Halsua wind power project, we will be able to offer plenty of job opportunities for companies in the economic area,” says Teemu Loikkanen, Country Manager for OX2 Finland.

"It is of paramount importance to the municipality that the project has passed on to competent hands and its realization is confirmed. The wind farm generates approximately EUR 2.5 million in real estate tax for the municipality every year – approximately EUR 3,500 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 kilometres of 400 kV power line for electricity transmission.

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