Statkraft and ABO Wind conclude 10-year power purchase agreement in Finland

Statkraft and ABO Wind have concluded a ten-year power purchase agreement (PPA) for the Finnish wind farm Pajuperänkangas. The Norwegian company also receives the rights to the Guarantees of Origins of the electricity produced.

The 14 turbines are scheduled to be connected to the grid in autumn 2023 and can produce enough electricity to supply approximately 14,000 electricity-heated Finnish households. With an installed capacity of 86.8 megawatts, it is the largest project to date in which ABO Wind covers the complete value-added chain of planning and turnkey construction. The development works have been previously carried out on a close partnership basis together with Infinergies Finland Oy.

"For us, the conclusion of the power purchase agreement is another milestone on the way to the independent implementation of a project of this size. We are very happy about the fact, that we are about to build our fourth wind farm in Haapajärvi this year and that we have found a reliable partner in Statkraft,” says Dr. Klaus Pötter, the ABO Wind General Manager responsible for Finland.

“Thanks to our solid capitalization ABO Wind is now in a position to generally develop wind farms such as Pajuperänkangas on its own and to construct them on a turnkey basis. Our internal financing and PPA departments also negotiated and concluded the power purchase agreement without external help," Pötter adds.

"Providing developers with the right power purchase agreement to enable the financing and construction of their projects while optimizing the risks over many years to come is one of Statkraft's core strengths. Our partnership with ABO Wind has been very positive and we are pleased to have contributed to quickly unlocking the next steps in the construction project thanks to our PPA," says Arne Wist, Head of Origination and Portfolio Management Nordics at Statkraft.

Currently, preparatory construction measures at the wind farm are underway. Construction of the foundations is scheduled to begin in the third quarter of this year. 14 V162 turbines with a hub height of 169 metres each will be erected. The wind farm helps increasing the renewable share in the Finnish energy mix, adding another significant share of emission-free electricity every year.