Impax in talks to buy wind farms in Finland

The growing Finnish wind power market is seen as an early mover investment opportunity by Impax.

The British company Impax Asset Management Group Plc is in talks to buy wind farms in Finland, according to a news report by Bloomberg. Impax’s CEO Ian Simm told Bloomberg that the company is in discussions with developers of onshore projects that it may be able to acquire in the next six months to a year.

In the report, Simm describes Finland’s wind market as “an early mover opportunity” as the country is seeking to significantly boost to its nascent wind power production, but has not been targeted by many institutional investors as yet. Impax manages about USD 3.5 billion for institutional and high net worth investors globally.

Big plans for wind power

According to Bloomberg, the Finnish government is planning to raise electricity consumption from wind power to 6%, or about 6 TWh, of its total demand by 2020, from the current level of 1%. Finland had 288 MWh of installed wind capacity at the end of 2012. In comparison, Germany’s wind power capacity was 31,308 MWh.

Finland has introduced a feed-in tariff of about EUR 105 MWh for onshore wind generators to encourage investment in the sector. “Wind energy is growing fast in Finland and the country has big plans for it,” says wind power analyst Mauricio Bermudez Neubauer from Accenture Plc in Bloomberg’s report.

Sources: Bloomberg, Impax