Luxcara, one of the leading asset managers for renewable energy investments, has acquired the Finnish wind power project Välikangas, which has a projected capacity of 100 MW. The produced electricity will be sold to an off-taker on the basis of a power purchase agreement (PPA).
The wind farm has been developed by and will be built with ABO Wind as construction manager. Connection to the grid is envisaged for summer 2020.
“We continue to be convinced by wind power in the Nordics and are happy to realize this Finnish wind project on the basis of already established business partnerships thanks to our existing wind projects in other countries”, says Dr. Alexandra von Bernstorff, Managing Partner of Luxcara.
The wind farm lies in the region of Northern Ostrobothnia and has excellent wind conditions. It was acquired for a portfolio for institutional investors and will provide more than 90.000 households with clean energy.
About Luxcara
Luxcara is an independent asset manager offering institutional investors equity and debt investment opportunities in the international renewable energy market. The ownermanaged 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 freemarket power purchase agreements.
Luxcara’s portfolio includes solar and wind power plants across Europe with a total capacity of more than 1 gigawatt and an investment volume exceeding 2.3 billion euros. With this outstanding track record, Luxcara is one of Europe’s most experienced asset managers for renewable energy investments.
