- Transaction is part of the expansion strategy into Nordic onshore plants
- Project benefits from state-guaranteed feed-in tariff for twelve years
Hamburg, 19 June 2018 – The investment company Aquila Capital – a specialist in alternative investments – is acquiring the “Ykspihlaja” project, an onshore wind park close to the Finnish town of Kokkola. The wind farm has four Nordex N131 turbines with a capacity of 3.6 megawatts (MW) each. The location has average wind speeds of 7.3 m/sec at the hub height of the turbines, thus allowing for a capacity factor of 41 percent. This is the first wind energy investment by Aquila Capital in Finland. The project supplements the company’s extensive existing wind energy portfolio in Scandinavia.
“The move in to the Finnish wind energy market is a logical step for us and an important element in our expansion strategy in the field of renewable energies – particularly in northern Europe. Thanks to its natural features and stable political framework, the region is key to the success of the Europe-wide energy transition,” says Roman Rosslenbroich, co-founder and CEO of Aquila Capital. The transaction follows just a few months after the acquisition of three Swedish wind energy projects with a total capacity of more than 580 MW, including one of the largest onshore wind projects in Europe.
Project benefits from twelve-year state-guaranteed feed-in tariff
The plant in Kokkola was completed in March 2018 and is already connected to the Finnish electricity grid. “Ykspihlaja will profit in full from the state-guaranteed feed-in tariff for a period of twelve years, thus ensuring long-term profitability. This sustainability is extremely important to our investors,” explains Susanne Wermter, Head of Investment Management Energy & Infrastructure EMEA at Aquila Capital.
The developer OX2 will continue to be responsible for the ongoing technical and commercial management of the wind farm. “We are pleased that we have the opportunity to realise what is now the fourth joint project with Aquila Capital. Above all we appreciate the reliability and long-term investment prospects associated with our partnership,” says Paul Stormoen, the managing director of the Swedish developer OX2.
About OX2:
OX2 is a leading provider of onshore wind energy plants in Scandinavia. Alongside partners and investors the Swedish company has been realising wind energy projects as a developer, financier and plant operator since 1991. The portfolio encompasses assets with a total power output of more than 2.000 MW. In addition to its commitment in the wind power sector, OX2 is also active in the fields of biogas and geothermal energy.
About Aquila Capital:
Aquila Capital develops alternative investment solutions for institutional investors worldwide. Founded in 2001 and owner-managed, the investment company considers itself a fiduciary for its clients and applies a holistic approach to managing customised real assets and financial assets.
Aquila Group’s client base consists predominantly of institutional investors in Europe and Asia. Over 200 professionals located in ten offices globally implement efficient investment strategies via fund structures and individual mandates. The Aquila Group comprises Aquila Capital Investmentgesellschaft mbH, which is licensed by the Federal Financial Supervisory Authority (BaFin) to act as an alternative investment fund manager in Germany, and Alceda Fund Management S.A., which is licensed as an alternative investment fund manager and UCITS management company in Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF).
Further information is available at: www.aquila-capital.de
