Luxcara, one of the leading asset managers for renewable energy investments, has acquired two more Finnish wind projects. Sievi and Pihtipudas have a projected capacity of 60 MW. The produced electricity, which can provide more than 50 000 households with clean energy, will be sold to an off-taker on the basis of a power purchase agreement (PPA).
The projects Sievi and Pihtipudas were developed by ABO Wind. This is the same developer as for the 100 MW project Välikangas, whose acquisition Luxcara announced in February 2019. Connection to the grid is envisaged for the second half of 2021.
“We remain convinced by wind power in the Nordics and are happy to realize two more Finnish wind projects with ABO Wind. We expect the projects to strongly benefit from this renewed collaboration”, says Dr. Philip Sander, Managing Partner of Luxcara.
Together with Välikangas, the wind projects are located in the Northern Ostrobothnia region and benefit from excellent wind conditions near the shore. They were acquired for a portfolio for institutional investors.
About Luxcara
Luxcara is an independent asset manager offering institutional investors equity and debt investment opportunities in the international renewable energy market. The owner-managed company was founded in 2009. Luxcara acquires, structures, finances and operates renewable energy and related infrastructure projects as a long-term buy-and-hold investor. The company specializes in structuring free-market power purchase agreements.
Luxcara’s portfolio includes solar and wind power plants across Europe with a total capacity of more than 2 gigawatt and an investment volume exceeding 3 billion euros. With this outstanding track record, Luxcara is one of Europe’s most experienced asset managers for renewable energy investments.
