AIP Management, on behalf of AIP Infrastructure II, is pleased to announce a EUR 135m financing of the Matkussaari wind farm, a 148.5 MW onshore wind project in Finland, with an instrument designed to finance fully merchant projects on a long-term basis.
“We are very pleased to be making this first investment in the Finnish market in partnership with an experienced developer and operator, such as VALOREM. Finland is an attractive market for our flexible financing instrument supported by the low country risk profile, strong power market fundamentals and the ability to build renewable projects at scale on a subsidy-free basis.” said Kasper Hansen, Managing Partner of AIP.
VALOREM, a French independent power producer, established in 1994, is the project developer, 100% equity owner and project manager during both construction and operations. The project is at a construction-ready stage with a tier-1 turbine supplier who are also providing a long-term O&M agreement.
The wind farm will have a total expected production of c. 460 GWh per year which will produce enough electricity to supply the equivalent of around 106,000 Danish households and will offset the equivalent of 34,000 tonnes of carbon dioxide during each year of operation. Construction is expected to start in April 2022 with the project expected to reach commercial operation in January 2025.
Source