Work starts on two new wind parks in Finland

British company Impax Asset Management views Finland as a key wind market.

Earthworks have commenced in preparation for the construction of two new wind parks in Siikajoki and the Sodankylä municipality in northern Finland. Both sites will have nine 3 MW wind turbines and are expected to start producing electricity in spring 2015, according to the Finnish magazine Tekniikka&Talous.

The Joukhaisselkä wind power park in the Sodankylä municipality is owned by the British company Impax Asset Management Ltd, which manages GBP 2.4 billion for investors globally. Impax acquired two Finnish pre-construction wind power projects from Fortum and Metsähallitus in September 2013.

“Given the early stage of the Finnish wind market, we see this portfolio as an excellent foundation asset for our wind investment programme in the region. This is a key market for Impax and we target follow on acquisitions as the market continues to grow,” said Daniel von Preyss, Managing Director at Impax.

Commitment to wind power growth

The second wind park currently under construction in Siikajoki is owned by the Finnish companies LocalTapiola Group and TuuliSaimaa, which already have tens of wind power projects around Finland. The main contractor at both sites is the Finnish company Keski-Suomen Betonirakenne.

According to VTT Technical Research Centre of Finland, there were 209 wind turbines operating in Finland at the end of last year, producing 447 MW of energy. Wind power constituted about 0.9% of the total energy consumption in Finland. The government of Finland has set a target of 6 TW of wind power by the year 2020.

Sources: Tekniikka&Talous, VTT, Impax Asset Management