07.07.2014

Eolus Vind acquires two Finnish wind power projects

Swedish wind power developer attracted by Finland’s feed-in tariff which guarantees electricity producers a stable price for 12 years.

Eolus Vind AB, one of the leading wind power developers in Sweden, has entered the Finnish market by acquiring two wind power projects under development from the project developer Auria Wind Oy. Eolus Vind has also established a Finnish subsidiary called Eolus Oy.

The two wind power projects are located in Loimaa-Alastaro and Huittinen in south-western Finland. Together the projects hold sites for 15 wind turbines with a total capacity of approximately 50 MW. “This acquisition gives us a good start in an interesting market where Eolus’ long experience will provide the market with attractive wind farms,” says Per Witalisson, CEO of Eolus.

Credible support for wind power

According to Eolus, its investment in Finland is partly a result of the credible support system for wind power that now exists in the country. “Through its feed-in tariffs Finland has gotten a stable framework for increased renewable energy production from wind power. This attracts investors seeking long-term investments with stable cash flows,” says Witalisson.

Eolus has established more than 430 wind turbines in Sweden and also has business activities in Norway, Estonia and Latvia.

Source: Eolus Vind