German developer BayWa has entered the Finnish wind market by agreeing to buy 50% of a 350MW wind farm being developed by investors Exilion.
Both companies will develop and invest in the Karhakkamaa project – located in the north of Finland, about 5km from the Swedish border. The project is due to consist of 48 wind turbines with an installed capacity of about 350MW. The project is expected to come online in 2026.
BayWa has already realised several other wind energy projects in the Nordic market, including the 94.6 MW Lyngsåsa wind farm in Sweden.
Its CEO Maria Röske said BayWa considers Finland a “strategic market”.
Finland updated its Climate Change Act in July to target net zero emissions by 2035.