Ilmatar Energy has announce that it has signed long-term project finance agreements with a project finance provider in the Nordic region, to fund the construction of its Voimamylly and Rasakangas projects totalling 73.8MW of installed capacity.
The company has secured € 42 million of senior debt commitments for two onshore wind projects. Ilmatar intends to retain ownership of both projects throughout their lifetime of 30–35 years. The construction of Voimamylly, located in Humppila and Urjala, and Rasakangas, located in Kurikka, is underway, having begun at the beginning of 2021 and works are proceeding as planned. Voimamylly’s and Rasakangas’ turbine foundations will be built during summer 2021 and turbines will be installed in the autumn. The wind farms are expected to be connected to the grid and will start producing clean wind power in early 2022.