Wind power company CPC Finland and Finnish power group Helen (municipal power firm of the town of Helsinki) have entered right into a joint venture (forty% CPC, 60% Helen) for construction, proudly owning and working the 86 MW Lakiakangas 3 wind farm in Western Finland. The building has been commenced and the wind farm is scheduled to be commissioned during the last quarter of 2021.
The Lakiakangas three wind farm consists of 20 Vestas V150-four.three MW turbines and is situated in the municipalities of Kristiinankaupunki and Isojoki in Finland. The non-recourse project financing for the project is offered by OP Corporate Bank.
In an additional project, the three way partnership will build and function an approx. 31 km long overhead energy line from Fingrid’s Kristiinankaupunki substation to the Mansikkamäki and Tupaneva substations. The 110kV overhead power line is currently under development and might be commissioned in August 2021.
“We are very happy to have Helen as our partner in operating the Lakiakangas 3 wind farm. This is our third and so far biggest wind farm development in Finland. The three way partnership is a real win-win set-up with compensatory strengths for long term success. OP Corporate Bank’s exact but pragmatic method through the financing process was additionally exemplary for the project success,” says Erik Trast, the Managing Director of CPC Finland Oy.
“The Lakiakangas 3 wind farm is a major funding, and it supports Helen’s goal of carbon-impartial vitality production in 2035. Our enterprise customers are extraordinarily fascinated within the new method of buying wind power from a chosen wind park. This means Helen will make the probabilities of a new power era even more extensively accessible to everybody. By combining forces with CPC, we are taking another main step in direction of a carbon-neutral future,” says Harri Mattila, a Director at Helen.
“The Lakiakangas 3 wind farm is a crucial sustainable funding within the Finnish power market underlining OP’s commitment to inexperienced financing. It was a fantastic pleasure working with an skilled international project developer CPC and a leading Finnish municipal utility company Helen,” states Laura Hakamies, Head of Corporate Lending and Capital Market Financing of OP Corporate Bank, the sole financial institution financing provider for the project.
For further data, please contact:
Managing Director, CPC Finland Oy
tel. + e-mail: [email protected]