OX2 Hands over Korkeakangas Wind Farm in Finland to Aquila Capital

Source: www.gulfoilandgas.com 6/29/2022, Location: Europe

OX2 hands over the Korkeakangas wind farm in Finland to Aquila Capital, a sustainable investment management and asset development company, based in Hamburg, Germany. The wind farm comprises nine wind turbines with a total output of 45 MW.

In January 2020, OX2 and Aquila Capital had agreed to construct the Korkeakangas wind farm in Karstula, Central Finland. As part of the agreement, OX2 constructed the wind farm under an EPC agreement (Engineering, Procurement, Construction).

The now commissioned wind farm consists of nine Nordex wind turbines with an estimated annual production of 140 GWh. This corresponds to the electricity consumption of approximately 28,000 households (5,000 kWh/household).

“With the commissioning of the Korkeakangas wind farm now completed, Aquila Capital continues to expand its commitment to renewable energy in Northern Europe. We are already one of the most active investors in renewable energy throughout the Nordics, with Finland being an important market for us. With the projects we implement, we actively engage in the energy transition and make an important contribution to the fight against climate change. In addition, we are creating opportunities for our investors to achieve interesting returns with plannable risks,” says Joakim Johnsen, Head of Markets & Operations Aquila Clean Energy EMEA, Aquila Capital.

“It is great that we now get to handover the Korkeakangas wind farm to Aquila Capital. That the wind farm is now commissioned is a result of great cooperation and achievements from everyone involved. OX2 will now manage the wind farm and we look forward to continuing as a partner to Aquila Capital, a company we got to know as an investor very active in the transition to a renewable energy system,” says Paul Stormoen, CEO, OX2 AB.

After completion OX2 will remain responsible for the technical, commercial and financial management of the wind farm under a 10-year contract.

Facts about Korkeakangas wind farm:
- Nine Nordex N149 4.8 MW wind turbines with a total height of 230 metres
- Key subcontractors: Nordex (turbine supplier), KSBR (infrastructure work, foundations), Fingrid (grid connection)
- Construction started in Spring 2020 and was completed in Spring 2022

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