Wind farm CPC Finland will build its fourth and to date its largest wind farm in Finland for Prime Capital’s Prime Green Energy Infrastructure Fund (PGEIF) in Kristiinankaupunki, Finland. The deal will guarantee Finland a significant amount of new subsidies and carbon-free electricity. In addition, it will contribute to the national goal of carbon neutrality 2035 and generate considerable amounts of new tax revenue for the local community.
The Lappfjärd wind farm has been developed by CPC Finland since 2011. It includes up to 39 wind turbines with a total capacity of up to 250 MW. In the first phase, 31 wind turbines with a total capacity of 192 MW will be built. Construction is due to start in early autumn and commissioning of the wind farm is scheduled for the first quarter of 2023. The plant will be connected to the grid via the Arkkukallio substation in Fingrid. The annual electricity production of the Lappfjärd wind farm is estimated to cover the electricity consumption of around 200,000 households.
CPC Finland will provide engineering, procurement and construction services to the wind farm during the construction phase and technical and commercial asset management services during operation.
The project will be owned by the PGEIF, an impact fund (“Article 9”) compliant with the requirements of the EU Public Financial Disclosure Regulation (SFDR), investing in sustainable business activities in the Nordic countries. The fund is largely backed by European pension funds.
Erik Trast, Managing Director of CPC Finland Oy, said: “We are excited to partner with Prime Capital for the construction of the Lappfjärd wind farm. This is truly an ideal win-win transaction that will guarantee Finland a substantial amount of new subsidies and carbon-free electricity, contributing to the national 2035 carbon neutral target and generating significant amounts of new tax revenue. annual over the coming decades for local communities. community of Kristiinankaupunki ”.
Dr. Mathias Bimberg, Head of Infrastructure, Prime Capital AG, said:
“We are honored to work with CPC Finland Oy, true pioneers of wind development in Europe, on our second investment for the fund. This project fits perfectly into our strategy of building green projects with some of the lowest production costs in Europe and will be our first large-scale investment in Finland. We will focus more on structuring and leveraging this investment over the coming months.
Facts about the Lappfjärd wind farm:
• Wind farm located in Kristiinankaupunki, in the province of Ostrobothnia, Finland
• Up to 39 wind turbines, first phase of construction with 31 wind turbines and a total capacity of 192 MW
• Total investment of 200M € (2021-2023)
• Estimated electricity production equivalent to the electricity consumption of around 200,000 households
• Estimated commissioning date: March 2023
• Main subcontractors: to be announced soon
• Grid connection to Fingrid KD Kristinestad, later KD Arkkukallio
Source: CPC Finland Oy