Enefit Green, a renewable energy subsidiary of Eesti Energia, has completed the acquisition of Tolpanvaara wind farm development from Metsähallitus, a company that manages the Finnish state forest.
This is Enefit Green’s first wind farm development in Finland.
The agreement between Enefit Green and Metsähallitus to purchase the construction of the Tolpanvaara wind farm was entered into in 2018. The closing of the deal was subject to certain prior conditions.
“The development of Tolpanvaara is a well-located ready-to-build project. In addition, expansion to Finland is supported by a good local investment climate and a stable market situation. Within the framework of the Tolpanvaara project, we are open to cooperation with partners and large electricity consumers who are interested in concluding a long-term renewable electricity purchase agreement.”Aavo Kärmas, CEO of Enefit Green.
“We are pleased to see remarkable international player Enefit Green coming to Finnish energy market. Moreover, it is great that yet another wind farm we have developed is coming to fruition.”Tuomas Hallenberg, the director of real estate development at Metsähallitus.
The Tolpanvaara wind farm will be situated in a relatively remote location with good wind conditions between the Metsähallitus forests. Up to 22 wind turbines can be installed in the field, with a total capacity of up to 100 megawatts. The owner of the wind farm project is Tolpanvaara wind farm Oy, a Finnish subsidiary of Enefit Green.
The increase in renewable energy production will contribute to Eesti Energia’s strategic goal of producing 43 percent of electricity and heat from renewable sources in 2024.