OX2 buys 400MW wind farm in Finland

Nordic developer has acquired the subsidy-free 400MW Lestijärvi wind farm, set to become Finland's largest

OX2 repowered the Ajos wind farm in Finland for owner Ikea in 2017
OX2 repowered the Ajos wind farm in Finland for owner Ikea in 2017

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Announced today (12 February), Stockholm-based OX2 has acquired the 455.4MW Lestijärvi Lestijärvi (455.4MW) OnshoreFinland, Europe Click to see full details project in Finland’s Central Ostrobothnia region from construction firm YIT.

The plans and building permits for the 72-turbine project include the construction of a new electricity substation and a 55km-long, 400kV power line to transmit the energy from the site. Construction is due to start in the next 12 months.

The head of the Lestijärvi municipality, Esko Ahonen, welcomed OX2’s purchase and the tax revenue generated by the project.

In a statement, he said: "It is of paramount importance to the municipality that the project has passed on to competent hands and its realisation is confirmed. 

“The wind farm generates approximately €2.5 million in real estate tax for the municipality every year – around €3,500 per citizen. It will secure funding for a new school and provide us with capital for development and maintain wellbeing in our municipality.”

Once commissioned, the project’s annual energy production will be around 1.4TWh –  2% of the total electricity production in Finland.

OX2 currently has roughly 340 MW of wind power under construction in Finland. To date, it has developed more than 1.1GW of onshore wind in Sweden, Finland and Denmark, including the 147.6MW Lehtirova Lehtirova (147.6MW) OnshoreGällivare, Norrbotten County, Sweden, Europe Click to see full details project in northern Sweden.

It also manages contracts for 40 wind farms totalling 2.15 GW in capacity, according to its own press statement.

Last year, Swedish private-equity firm Altor agreed to buy a 30% stake in OX2 for an undisclosed sum.

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