Commerz Real acquires Finnish wind farm 28.5 megawatts for klimaVest
10.01.2023 • 3 Reading Time
- Newly built wind turbines 148 metres high in western Finland
- Green electricity for more than 12,000 average Finnish households
Commerz Real is further expanding its klimaVest impact fund portfolio and has acquired a wind farm in Finland for this purpose. The seller of the plant with a rated output of 28.5 megawatts is Energiequelle, an international project developer with a track record of more than 1,500 megawatts in project volume.
"Finland is a stable and attractive market for wind power investments. With this transaction, we can further enhance the diversification of klimaVest and invest the encouragingly high net inflows from investors in high-yield assets in line with our strategy. We will continue to actively screen investments in Finland and neighbouring Nordic countries. In doing so, we deliberately rely on a mix of long-term power purchase agreements with companies with a strong credit rating and free-merchant approaches, in which the electricity generated is freely marketed on the electricity exchange."
The wind farm, built in 2022, comprises five N163 turbines – 5.7 megawatts with a height of 148 metres. A long-term full maintenance contract has been signed with the renowned manufacturer Nordex. The technical and commercial management of the park lies with the project developer Energiequelle. The green electricity generated is expected to cover the calculated annual demand of more than 12,000 average Finnish households.
The location is not far from the city of Vaasa in western Finland, just a few kilometres inland from the Gulf of Bothnia. Around 200 kilometres further north, Commerz Real had already acquired a wind farm with 58.8 megawatts in the municipality of Kannus in summer 2021.
The location is not far from the city of Vaasa in western Finland, just a few kilometres inland from the Gulf of Bothnia. Around 200 kilometres further north, Commerz Real had already acquired a wind farm with 58.8 megawatts in the municipality of Kannus in summer 2021.