OX2 to build and sell 455MW onshore wind farm in Finland

Nordic developer to start construction of 69-turbine project and sell it to consortium of Finnish energy companies

OX2 plans to start construction of the 69-turbine Lestijärvi project immediately

Nordic developer OX2 has agreed to build and sell a 455.4MW wind farm in Lestijärvi, western Finland.

It plans to start construction of the 69-turbine 455MW Lestijärvi project immediately and believes it could be completed by early 2025.

The Stockholm-based developer plans to sell the project for SEK 6.5 billion (€650 million) to a consortium of Finnish energy companies — Kymppivoima Oy (65%), Oulun Energia (25%) and Kuopion Energia (10%).

It expects it to have an annual output of about 1.3TWh, or 2% of total annual electricity production in Finland.

OX2 acquired the project rights in February 2021 from construction firm YIT.

It will be built without government subsidies, CEO Paul Stormoen said. It is unclear whether the wind farm will sell electricity solely to Finland’s wholesale market, or whether its owners will look to secure an alternative offtake agreement, such as a corporate power purchase agreement (PPA).

The developer has not yet named a turbine supplier for the project, but stated that the wind farm will consist of 69 turbines – implying a 6.6MW average power rating – with tip heights of 240 metres.

The company has not specified when the sale of the project is due to be finalised.

Once the transaction is completed, OX2 will be responsible for the technical and commercial management of the project under a 15-year agreement

OX2 will also build grid infrastructure to connect the wind farm, including a substation and a 58km 400kV transmission line.