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Investment in the largest subsidy-free wind farm project in the Nordics

IKEA Oy

Posted on

5 Nov

2018

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Status:

Signed

Cross-border:

Yes

Deal value:

Not disclosed

Dittmar & Indrenius > References > Investment in the largest subsidy-free wind farm project in the Nordics

We advise IKEA Oy on the Finnish law aspects of its investment in four wind farms in Finland. Together they comprise the largest subsidy-free wind power project in the Nordics with a total of 25 wind turbines and a combined capacity of 107.4 MW. Total production is estimated at approximately 360 GWh per year.

IKEA Oy, part of Ingka Group, is financing the construction of the wind farms, with the commitment to acquire the wind farms once they are fully operational in the beginning of 2020. The current owner of the wind farms and the main contractor for the construction is OX2 Wind.

The wind farms are located in Ostrobothnia in Långmossa and Ribäcken, in Southern Ostrobothnia in Ponsivuori and in Southwest Finland in Verhonkulma.

The investment is part of IKEA’s commitment to become energy independent by 2020 and produce as much renewable energy as their global units consume as well as to promote the transition towards carbon neutral society.

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Dittmar & Indrenius