Statkraft and ABO Wind have concluded a ten-year power purchase agreement (PPA) for the Finnish wind farm Pajuperänkangas. The Norwegian company also receives the rights to the Guarantees of Origins of the electricity produced.

The 14 turbines are scheduled to be connected to the grid in autumn 2023 and can supply approximately 80,500 households with electricity. With an installed capacity of 86.8 megawatts, it is the largest project to date in which ABO Wind covers the complete value-added chain of planning and turnkey construction. The development works have been previously carried out on a close partnership basis together with Infinergies Finland Oy.

“For us, the conclusion of the power purchase agreement is another milestone on the way to the independent implementation of a project of this size. We are very happy about the fact, that we have found a reliable partner in Statkraft,” says Dr. Klaus Pötter, the ABO Wind General Manager responsible for Finland. Pajuperänkangas is the fourth wind farm ABO Wind builds in Haapajärvi.

Thanks to solid capitalisation ABO Wind is now in a position to generally develop wind farms such as Pajuperänkangas on its own and to construct them on a turnkey basis.

“Our internal financing and PPA departments also negotiated and concluded the power purchase agreement without external help,” Pötter adds.

“Providing developers with the right power purchase agreement to enable the financing and construction of their projects while optimising the risks over many years to come is one of Statkraft’s core strengths. Our partnership with ABO Wind has been very positive and we are pleased to have contributed to quickly unlocking the next steps in the construction project thanks to our PPA,” says Arne Wist, Head of Origination and Portfolio Management Nordics at Statkraft.

Currently, preparatory construction measures at the wind farm are underway. Construction of the foundations is scheduled to begin in the third quarter of this year. 14 V162 turbines with a total height of 250 metres each will be erected. The wind farm helps increase the renewable share in the Finnish energy mix, adding another significant share of emission-free electricity every year.

Image source: Courtesy of ABO Wind

Read more Wind energy news here