K2 Management engaged by Encavis as Owner’s Engineer for Illevaara wind farm in Finland

Finland, 10th September, 2024 — K2 Management (K2M), a leading energy transition project management and engineering consultancy, has been selected by prominent European Independent Power Producer (IPP) Encavis AG (Encavis), to facilitate the successful operation of the Illevaara onshore wind farm in Finland.
The 30MW wind farm, located in the Kainuu region of Finland, has already been connected to the grid and is anticipated to generate 98 GWh of clean electricity annually. Situated in a remote area with a challenging climate, where temperatures can drop below minus 30 degrees Celsius, the project includes state-of-the art, high-capacity turbines - featuring 5 of one of the largest onshore wind models manufactured by Vestas; the V162-6.0 MW.

K2 Management has been appointed as the Owner’s Engineer under the Turnkey Installation Agreement (TIA) and Turbine Supply Agreement (TSA) to oversee the final stage of construction. The scope of work involves managing the takeover processes and ensuring a seamless transition to the operation phase by providing technical expertise and guidance, while coordinating with various stakeholders. K2 Management’s role as Owner’s Engineer began in January 2024 and is expected to continue until September this year.

Cristina Fernández, European Sales Director, at K2M said: “Onshore wind is making a meaningful contribution to Finland’s energy transition, but bringing online projects in remote regions with harsh weather conditions continues to pose unique challenges for developers and operators, particularly as the next generation of larger turbines come into play. The Encavis team has proven itself highly adept at managing these risks across its Nordic portfolio and we are proud to be able to play a part in that at Illevaara.”

Mario Schirru, CIO/COO of Encavis AG, said: “Having invested into now a second wind farm in Finland, we are dedicated in continuing this momentum as the country works to significantly increase its wind power capacity, which is expected to generate about 100 terawatt hours (TWh) of annual onshore wind by 2040. The acquisition of the Illevaara wind farm last year contributed to acquiring 1 TWh of additional renewable electricity production in 2023 as part of ENCAVIS’ Accelerated Growth Strategy 2027, and we’re excited to enter the final phase of this project.”

He added: “K2M has supported us with the acquisition Due Diligence for the Illevaara project and is continuing this during the construction phase bringing extensive experience from global markets to navigate the challenging climate conditions of the region. Technical insights in this highly specialised area have been instrumental in ensuring the project’s smooth execution and we are glad to have them on board.”

For over a decade, K2 Management has been proudly supporting customers in delivering numerous projects in Finland as their trusted Owner’s Engineer. 

About K2 Management:

 
K2 Management supports its clients in their efforts to develop and operate sustainable energy projects that achieve the best possible return on investment.

It delivers a wide range of services within engineering, planning, project management, and due diligence spanning the entire value chain of an energy project; from the earliest phase of development, through construction as well as maximizing operations with asset management.

K2 Management is headquartered in Denmark with over 15 global offices, and its experienced team has been involved in more than 2,900 successful offshore wind, onshore wind and solar PV projects — in over 50 countries.

For more information, please see: www.k2management.com

About ENCAVIS:
The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to around 3.6 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has more than 1.2 GW of capacity under construction, of which around 900 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

ENCAVIS is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-), the Carbon Disclosure Project (CDP) with its Climate Score “B” and Sustainalytics with its “low risk” ESG risk rating.

Additional information can be found at: www.encavis.com