The wind farm that was subject for the transaction is situated in Lestijärvi in the province of Keski-Pohjanmaa. All in all, 69 wind turbines are planned in the area. The seller is OX2 and the buyer is a consortium of Finnish energy companies; Kymppivoima, Oulun Energia and Kuopion Energia.
The wind park in Lestijärvi is expected to be ready in 2024 and will then produce almost two percent of the total electricity consumption in Finland. When the park is ready, its valuation is around 650 million euros.
Acting under management of Elron, Etha Wind has participated in the transaction as technical advisor for the buyers. Elron has acted as commercial advisor for the buyers.
Anders Renvall, CEO Kymppivoima comments: “Etha Wind was efficiently supporting us, and we especially liked their capability to rapidly give technical comments and support the negotiation of the comments into the contracts”.
“We are very happy to have been trusted with a role in the transaction. This consolidates our position as the biggest Finnish wind power consultant”, says Etha Wind CEO, Staffan Asplund.
In practice, Etha Wind has reviewed that documentation and technical part of agreements are of high quality and that the wind park has been developed in line with laws, regulations and best practice.