To be powered by 15 turbines, the wind farm will be located in the town of Pyhäjärvi in Northern Ostrobothnia in Finland
YIT to sell Finnish wind farm to Ålandsbanken fund. (Credit: Pixabay/midasbram.)
YIT has sold the 90MW Finnish wind farm to Ålandsbanken Wind Power Fund for an undisclosed amount.
YIT and Ålandsbanken Wind Power Fund have agreed on contracting and construction services on the wind farm, for which YIT will provide for the buyer.
To be located in the town of Pyhäjärvi in Northern Ostrobothnia, the wind farm will be located on 1,400 hectares of land.
The project is powered by 15 wind turbines. YIT said that the building permit application process was started early last year.
YIT infrastructure projects executive vice president Harri Kailasalo said: “This project strongly supports our climate goals, since the Murtomäki wind farm produces an amount of renewable domestic electricity that is equal to the consumption of approximately 15,000 single-family houses annually.
“During the construction and production period, the project also has a significant positive economic impact on the town of Pyhäjärvi. This project is a continuation of our long-term cooperation with Ålandsbanken.”
For YIT, the wind power development is part of its work towards achieving its long-term climate goals, which is to reduce CO2 emissions to half, in its projects by 2030, compared to last year. The company’s other wind farms under development include nearly 100 turbines.
Launched this month, Ålandsbanken Wind Power Fund is a special fund to invest in Nordic wind farms that have all the permits for construction.
Ålandsbanken Wind Power Fund officials Juha Känkänen and Antti Valkama said: “Ålandsbanken funds and YIT have a long and successful shared history. It is great that we can expand our close cooperation to concern also wind power.
“The Murtomäki wind farm is the first investment of the Wind Power Fund and it suits our strategy perfectly. This is a good starting point for the further development of the fund.”