The Finnish wind farm project will significantly contribute to the country's goal of net zero emissions by 2035 and generate electricity that is almost equivalent to the annual electricity needs of Helsinki’s population
Exilion and BayWa to form 50-50 JV for Karhakkamaa wind farm project. (Credit: Exilion Management Oy)
Germany-based renewable energy developer BayWa r.e. has agreed to form a 50-50 joint venture (JV) with Exilion Tuuli to co-develop the 350MW Karhakkamaa wind farm project in Finland.
Exilion Tuuli is a Finnish investment company specialising in renewable energy and real estate. It is owned by Elo, the State Pension Fund of Finland, and Veritas.
The wind farm will be built in the Karhakkamaa area in northern Finland, nearly 32km north of the centre of the Tornio municipality and about 5km from the Swedish border.
To span across an area of 9,140ha, the Karhakkamaa wind farm will have 48 wind turbines. The project will also involve a new 400kV power line.
Exilion CEO Ari Talja said: “BayWa r.e. has worldwide experience in the construction of large wind power projects and a broad understanding of the Nordic operating environment, for example through its operations in Sweden.
“We plan to take the Karhakkamaa project forward in close cooperation, so that we can meet the needs of Finns for increasing energy self-sufficiency through renewable energy.”
The onshore wind farm project marks the entry of BayWa r.e. in the Finnish wind market. The project is expected to contribute significantly to Finland’s goal of net zero emissions by 2035 and generate electricity, which is almost equivalent to the annual electricity needs of Helsinki’s population.
BayWa r.e. Nordic CEO Maria Röske 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.”