Environmental investment fund managers Impax Asset Management has completed the acquisition of two pre-construction stage wind power projects in Lapland from Fortum and Metsähallitus with Natural Power providing full technical advisor services.
Natural Power concluded due diligence on the Kuolavaara-Keulakkopää and Joukhaisselkä projects totalling a proposed 75MW. The sellers are responsible for finalising the permitting of the projects. The transaction will be implemented in phases and the sale is expected to complete during the first quarter of 2014. Impax will raise project financing for the construction of the projects. The sale price and other terms are not disclosed.