The Finnish wind power developer and producer Ilmatar Windpower Oyj is considering to be listed on the NASDAQ OMX Helsinki First North Finland market. According to the company, it will make the decision this year depending on the market situation and other factors. The objective of the listing is to raise about EUR 260 million for future wind farm projects.
Ilmatar Windpower is planning to construct about 100 new wind turbines in Finland by the end of 2015, with a total capacity of 300MW. The company’s current wind projects are located in Raasepori, Luhanka, Hartola, Jämsä, Somero and Hamina, which have a total capacity of about 160MW. Ilmatar Windpower is also mapping out possibilities to start many new wind power projects in different parts of the country.
The first wind farm is expected to be completed next year in Raasepori, southern Finland and will require an investment of about EUR 20 million, according to Ilmatar Windpower’s CEO Kalle Pykälä.
Finland needs EUR 3-4 billion investments in wind power in order to reach its target of 2500MW capacity by the year 2020, according to Jari Tielinen, Senior Director, Business Development at Invest in Finland. “This requires both foreign and domestic investments and different types of financial solutions, where one alternative is the way chosen by Ilmatar Windpower – listing on the stock exchange,” he says.
Sources: Ilmatar Windpower, Helsingin Sanomat, IIF