Ilmatar has begun construction on four wind farms in Finland, thanks to debt financing from Danish AIP Management.
The total investment is 200 million euros, of which AIP’s share is 135 million euros. The capacity of the four wind farms totals 131.8MW. The wind farms will have an estimated production capacity of about 440 gigawatt-hours per year. Construction is expected to begin in July 2022 and commercial operations for all projects in the first quarter of 2024. Vestas was selected as the wind turbine supplier for the wind farms. The contract includes turbine delivery, installation, and commissioning, along with service agreements covering several decades for all four projects.