Acquisition of one of the largest subsidy-free wind power projects in the Nordics

IKEA Finland

Posted on

18 Sep

2020

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Fast facts

Status:

Completed

Cross-border:

Yes

Deal value:

Undisclosed

Dittmar & Indrenius > References > Acquisition of one of the largest subsidy-free wind power projects in the Nordics

We advised IKEA Finland on the Finnish law aspects of investing in and acquiring one of the largest subsidy-free wind power projects in the Nordics from developer OX2. Together, the project comprises four wind farms and will generate a total of 107.4 MW. The total production is estimated to be approximately 360 GWh per year, corresponding to the annual consumption of household electricity for about 72,000 households.

In October 2018, IKEA Finland signed an agreement with OX2 to build the four wind farms in Kurikka, South Ostrobothnia, Marttila, Southwest Finland, and Maalahti in Ostrobothnia with a total of 25 wind turbines. Ponsivuori wind farm was completed first and delivered in January 2020, and Långmossa, Ribäcken and Verhonkulma wind farms were completed and delivered in September 2020. All four wind farms are now operational.

The acquisition forms a part of IKEA’s commitment to promote a more sustainable everyday life as well as to fight climate change and invest in climate positivity.

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Dittmar & Indrenius